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If you are making a transaction of Cash Purchase on 30th
March and your accounting period ends on 31st March. Does it
affect the Current Asset of the Company?

Question Posted / arun

Answers were Sorted based on User's Feedback



If you are making a transaction of Cash Purchase on 30th March and your accounting period ends on 3..

Answer / ram

NO,it doesn't effect current assets,because once cash
purchase is done,cash balance will be reduced as well as
inventory balance will be increased. (i.e net effect of
current assets remain unchanged).

Is This Answer Correct ?    16 Yes 0 No

If you are making a transaction of Cash Purchase on 30th March and your accounting period ends on 3..

Answer / khalid

No, It doesn't effect the total current asset. But it
affect the cash balance & stock.

Is This Answer Correct ?    3 Yes 0 No

If you are making a transaction of Cash Purchase on 30th March and your accounting period ends on 3..

Answer / dhatchayani

No, it will not as when a cash purchase is made, cash value
reduces and inventory value increases, by making a contra
effect between cash and inventory that are items of current
assets.

Is This Answer Correct ?    3 Yes 0 No

If you are making a transaction of Cash Purchase on 30th March and your accounting period ends on 3..

Answer / veeranna

yes, it will effect the current asset of the company.

Is This Answer Correct ?    3 Yes 3 No

If you are making a transaction of Cash Purchase on 30th March and your accounting period ends on 3..

Answer / karthik

Yes, because cash is also a current asset

Is This Answer Correct ?    0 Yes 0 No

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