Bank Overdraft 11 April 2014 We have bank overdraft account against our FD Suppose bank charged 9 7 p a interest and debited it monthly Suppose bank charged 9 7 p a interest and debited it monthly How can we calculate the rate of intersest day
What about Bank Overdraft repayable on demand In Cash Flow Statement Bank Overdraft to be netted against cash and cash equivalents if it forms an integral part of the entities cash management But in Statement of Financial Position SFP this is not permitted on the face of SFP unless both the offsetting criteria are met that are In my opinion the Bank Overdraft shall form part of Cash and Cash Equivalents However the Cash Credit availed from bank shall form part of Financing Activity Many a times people confuse with Bank OD and Cash Credit and consider the same on equal footings So Gaurav you are right in considering the Bank OD as part of Cash and Cash
Bank Overdraft
Bank Overdraft
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Pengertian Bank Overdraft Dan Pencatatannya Dalam Akuntansi
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Bank Overdraft
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Simple bank overdraft should be shown under cash and bank balance with negative amount if there are other bank accounts exists otherwise show under current liabilities Online classes for CA CS CMA The bank overall is the facilities that are given to the special customers that have an account in a respective bank that gets an extension of the credits from the bank and then the account reached zero creditor A c Dr To bank overdraft A c being payment is made to the creditor When goods are purchased from a Bank Account Purchased A c
Overdraft loans are a flexible borrowing option that allows account holders to withdraw more money than they have in their accounts up to an approved limit Kotak Mahindra Bank offers an overdraft facility linked to various accounts such as savings and current accounts This facility can be especially useful for managing short term liquidity The firm records these charges after receiving the bank intimation or statement Example of such deductions is Interest on overdraft balance credit cards fees outstation cheques collection charges etc As a result the balance of the cash book will be more than the balance of the pass book 5 Interest and dividend received by the bank
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Bank Overdraft
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Bank Overdraft
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Bank Overdraft
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Bank Overdraft is normally provided for operating actvities It should be a part of operating activities Also it is not consideredf as cash and cash equivalent rather it is shown under current liabilities under bank OD accounts In our university we have overdraft a c no PNB 1283 we overdraft Rs 400000 i e PNB 1283 is 400000 Dr debit Balance since from bank is charging monthly interest on overdraft on our PNB 1240 a c balance is Rs 450000 Dr i e Rs 50000 is interest charge by bank on overdraft i made the entry like this Dr interest on overdraf 50000
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Bank Overdraft
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Bank Overdraft
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11 April 2014 We have bank overdraft account against our FD Suppose bank charged 9 7 p a interest and debited it monthly Suppose bank charged 9 7 p a interest and debited it monthly How can we calculate the rate of intersest day
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What about Bank Overdraft repayable on demand In Cash Flow Statement Bank Overdraft to be netted against cash and cash equivalents if it forms an integral part of the entities cash management But in Statement of Financial Position SFP this is not permitted on the face of SFP unless both the offsetting criteria are met that are
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