Answer Posted / azwar.j.khan
well as other said bank OD is shown on the liability side of
the balance sheet,i will say the same.
but we should first know that what is OD.Basically bank OD
is the facility given by the banks to withdraw more money
from the respective a/c then it posses,suppose a company has
a sum of rupees 2 lakh in its a/c but it withdraw Rs 3lakh,
it means that the bank has given loan of Rs 1lakh, which the
company as to pay back.
we all know that loan is the liability for the company so
the bank OD will be shown on the liability side, under the
head current liability and provision
| Is This Answer Correct ? | 16 Yes | 2 No |
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