in single entry chapter how to treat outstanding will be treated if given in adjustment?? plz... reply quickly
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O/s. will be put in liability side of balance sheet and will be added to concerned expense. in trading & Profit and loss account on debit side of p& l account, In single entry deduct the o/s. expense from profit before adjustment and show it on liability side of balance sheet.
Shreyasooden:
No, I am asking in chapter incomplete record not financial statements
ooh
Yup
is that okay??
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