is outstanding items (either expences or incomes) comes in
trial balance? if so how to treat them in financial
statements

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is outstanding items (either expences or incomes) comes in trial balance? if so how to treat them ..

Answer / shoukatali

Outstanding expences are shown in liabilities

Is This Answer Correct ?    6 Yes 0 No

is outstanding items (either expences or incomes) comes in trial balance? if so how to treat them ..

Answer / swami madhvendra awasthee

in this case in financial statements outstanding items is
shown only in liability side of balance sheet not in trading
or profit and loss account.

Is This Answer Correct ?    4 Yes 0 No

is outstanding items (either expences or incomes) comes in trial balance? if so how to treat them ..

Answer / ramesh.c

Outstanding items not comes in trail balence,it is only
adjustment entries.
Treatement: outstanding expences add to expences in
p&laccount(debit),and showned in liabalities side.
outstanding incomes credit in p&l account,asset side in
balence sheet

Is This Answer Correct ?    2 Yes 3 No

is outstanding items (either expences or incomes) comes in trial balance? if so how to treat them ..

Answer / devyani

Outstanding expences add to expences in
p&laccount(debit),and showned in liabalities side.
Outstanding incomes credit in p&l account,asset side in
balence sheet

Is This Answer Correct ?    0 Yes 1 No

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