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