Kindly tell the treatment of (vi) adjustment . I'm unable to get the proper explanation. Plzz reply fast
Dear Student,
Here is your answer,
Adjustment (vi) means that no interest is outstanding because it has been paid there for the amount outstanding will be paid out of bank
Accounting Treatment: Now interests outstanding will not be shown in the liability side of the balance sheet and that outstanding amount will be deducted from the bank account.
Regards
Here is your answer,
Adjustment (vi) means that no interest is outstanding because it has been paid there for the amount outstanding will be paid out of bank
Accounting Treatment: Now interests outstanding will not be shown in the liability side of the balance sheet and that outstanding amount will be deducted from the bank account.
Regards