AG Pharma has taken deposits from the public under the name Public Deposit, for a duration of 5 years, for a total amount of Rs 1 crores. Discuss by passing a journal entry how AG Pharma will record the transaction in the books of original entry Reflect by preparing the Balance Sheet how the transaction will be reflected in the books of accounts by following the correct classification of current and non -current item. Give reason
AG Pharma has taken deposits from the public under the name Public Deposit, for a duration of 5 years, for a total amount of Rs 1 crores. Discuss by passing a journal entry how AG Pharma will record the transaction in the books of original entry Reflect by preparing the Balance Sheet how the transaction will be reflected in the books of accounts by following the correct classification of current and non -current item. Give reason
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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AG Pharma has taken deposits from the public under the name Public Deposit, for a duration of
5 years, for a total amount of Rs 1 crores. Discuss by passing a
will record the transaction in the books of original entry
Reflect by preparing the
accounts by following the correct classification of current and non -current item. Give reason
for such classification.
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