rishabh khaitan (articleship) (78 Points)
05 February 2017I am preparing balnce sheet of my client,my client has taken CC limit of rs 10 lakhs from sbi ,I want to know what to take in liability side of balance sheet ,whrther entire amount of rs 1000000 or cleared balance as shown in statement i.e. Rs.954566.00.
Please help
Badal Goyal
(Owner)
(26 Points)
Replied 06 February 2017
Prashant Sharma
(CA)
(389 Points)
Replied 06 February 2017
vivek kumar jain
(service/student)
(559 Points)
Replied 06 February 2017
The Current Outstanding amount should be shown.
shishir dubey
(CA)
(31 Points)
Replied 06 February 2017
First reconcile as Bank Reconcilation and than show the actual payable to bank by your client.. shown under the head secured loan since stock is hypothicated.. CC limit you treat like bank account only diffrence its start with liability..
Mukesh Kumar
(Accounts Manager)
(1466 Points)
Replied 08 February 2017
CAclubindia
