Ashim kr Ray (social service) (1695 Points)
29 April 2016
MEGHA CHAUHAN
(CHARTERED ACCOUNTANT)
(61 Points)
Replied 29 April 2016
ASHMIN, It should be shown under current liability.
Ashim kr Ray
(social service)
(1695 Points)
Replied 29 April 2016
But Why it is a kind of advance that has been taken from the shop at the time of giving shop in rent. Its a kind of current asset.
Ashim kr Ray
(social service)
(1695 Points)
Replied 30 April 2016
Experts is there no reply for this queries.
MEGHA CHAUHAN
(CHARTERED ACCOUNTANT)
(61 Points)
Replied 30 April 2016
Because It is our Liability which we need to pay in near future.
And about advance , it cannot be consider as such because we had taken advance (liabilty), not gave advance then their is no way it can be considered as current asset.
CAclubindia
