If you are making a transaction of Cash Purchase on 30th March and your ac

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Question

If you are making a transaction of Cash Purchase on 30th
March and your accounting period ends on 31st March. Does it
affect the Current Asset of the Company?

Question Submitted By :: Arun

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Answer Posted By

Re: If you are making a transaction of Cash Purchase on 30th March and your accounting period ends on 31st March. Does it affect the Current Asset of the Company?

Answer
# 1

yes, it will effect the current asset of the company.

Is This Answer Correct ?

1 Yes

1 No

Veeranna

Re: If you are making a transaction of Cash Purchase on 30th March and your accounting period ends on 31st March. Does it affect the Current Asset of the Company?

Answer
# 2

NO,it doesn't effect current assets,because once cash 
purchase is done,cash balance will be reduced as well as 
inventory balance will be increased. (i.e net effect of 
current assets remain unchanged).

Is This Answer Correct ?

2 Yes

0 No

Ram

Re: If you are making a transaction of Cash Purchase on 30th March and your accounting period ends on 31st March. Does it affect the Current Asset of the Company?

Answer
# 3

No, It doesn't effect the total current asset. But it 
affect the cash balance & stock.

Is This Answer Correct ?

0 Yes

0 No

Khalid

Re: If you are making a transaction of Cash Purchase on 30th March and your accounting period ends on 31st March. Does it affect the Current Asset of the Company?

Answer
# 4

No, it will not as when a cash purchase is made, cash value
reduces and inventory value increases, by making a contra
effect between cash and inventory that are items of current
assets.

Is This Answer Correct ?

0 Yes

0 No

Dhatchayani

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