Please let me know on what basis you are thinking like that...?
Entry of Cheque in hand on 31st March
Page no : 2
(Guest)
like you think , the case refers to cheques received after BS date? on what basis you are thinking the case is referring after BS date?
| Originally posted by : ramesh | ||
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I think, the case refers to cheques received after BS date. |
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ramesh
(FINANCIAL ANALYST)
(46 Points)
Replied 12 June 2011
Basing on the folloing facts of the case
"At the year-end, the cheques bearing date of 31st March, or before, though received in first or second week of April of succeeding year, are accounted for as ‘cheques-in-hand".
ramesh
(FINANCIAL ANALYST)
(46 Points)
Replied 12 June 2011
i am talking abt the context but not abt the material. Material is useful and informatory.
sricharan
(IPCC student)
(23 Points)
Replied 12 June 2011
MY opinion is just show it as bills recivable and then write off parts of amount when ever those amounts are cleared
Raj
(Assistant)
(56 Points)
Replied 14 June 2011
Hai,
1. What should i do if the cheque received from the customers on date 31/03/----- but not deposied / or cashed
2. If, i need to give a current dated receipt for the pdc we received from the cutomers at the end of the financial year; say 25/03/---- what should i do if we are using an automated computer environment? Is it valid to give current dated receipt for pdc?
What will be the effect on debtors then?
Raj
(Assistant)
(56 Points)
Replied 14 June 2011
One more thing...say we prepared our B/s (2010-2011) on 5/04/2011-----after that we received a cheque dated 28/03/2011 from the cutomer, what will be the entry date this receipt? cheque date or received date?
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