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Where we have to take the Director's current account, wages
a/c, Accruals, sales tax payable in Balancesheet
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Answer Posted / anju joshi
If the director is owner of the company then..director's
current a/c will be shown in Current assets in Asset side
of balance sheet.If director is shown as employee of the
company.. drawinf salary.. then his current account wud not
become the part of Company's balance sheet.
The wages a/c will not become part od BS unless it is
prepaid or outstanding(if prepaid,it comes under current
Assets,if outstanding,it comes under liabilities of BS).
The Accruals,if liabilitiesi.e.wages,comes in liabilities
side of BS,and accruals if of asset nature i.e.interesta
accrued,comes in asset side of BS.
SAles tax payable comes in liabilities side of BS.
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