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Interest received

Pradeep Kumar Reddy (Accounts Excutive) (68 Points)

26 February 2018

Interest received a/c show in P&L credit side,but which side show in Balance sheet?

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8 Replies

Vinaya Kumara K H (Accounts Executive) (259 Points)
Replied 26 February 2018

Asset side of the Balance sheet

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Miss Mansi Bhojani (Practicing Chartered Accountant) (1724 Points)
Replied 26 February 2018

Asset side it is shown as interest receivable

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Miss Mansi Bhojani (Practicing Chartered Accountant) (1724 Points)
Replied 26 February 2018

if interest is received it will reflect in your bank account

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Sana Sultana Mussu (Student) (5119 Points)
Replied 26 February 2018

If i am not wrong- interest received will not appear in Balance sheet.. if it is "receivable" or "received in advance" only then it can be shown under balance sheet..

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Miss Mansi Bhojani (Practicing Chartered Accountant) (1724 Points)
Replied 26 February 2018

yes you are right but previously some one has mentioned answer to the query as asset side so i clarified that asset side it will appear if it is receivable and if it is received as the query says than it will reflect in you bank account

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