Interested to Buy Any Domain ? << Click Here >> for more details...
Bank Overdraf is an Asset or a liability for a Bank?
- 28 Answers
- 88226 Views
- ICAI, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / rajesh
Bank overdraft is an asset for bank. for us liability
| Is This Answer Correct ? | 241 Yes | 18 No |
Answer / rakesh panchal
Bank overdraft is a liability for us and is asset for bank.
It is liability for us since we have to repay Bank
Overdraft amount with interest to bank. Bank Overdraft will
reflect in our balance sheet under Secured Loans in balance
sheet on liability side.
It is asset for bank since bank is going to received the
amount with interest. Bank Overdraft will reflect in there
balance sheet under current assets.
| Is This Answer Correct ? | 125 Yes | 9 No |
Answer / suhasini modagi
Yes what Bharat told is correct, many of them will be going
through these answers, plz guys dont enter wrong answer, if
you are not sure mean dont answer it......
Bankoverdraft is liability for us and it is asset to bank .
Shashadri dont feel bad ok....
When we overdraw the money from the bank it will be
liability for us and not an asset for us.
| Is This Answer Correct ? | 39 Yes | 5 No |
Answer / rajesh
bank overdraft is an asset to the bank and for us liability
| Is This Answer Correct ? | 30 Yes | 4 No |
Answer / simran
Bank Overdraft is a liability for us
because when we over withdrew money from bank it is our
liability to pay it back.
so it is shown on the liability side in our balance sheet.
And it is an asset for bank because they will received the
total amount along with interest from us.
it will be shown on asset side in balance sheet of bank.
| Is This Answer Correct ? | 23 Yes | 4 No |
Answer / bharat suthar
Why Sheshadri above is posting a total wrong answer? One
should keep a mum, if not sure and should not reveal his
ignorance!
| Is This Answer Correct ? | 22 Yes | 6 No |
Answer / ashsh
bank overdraft is an asset for bank.because bank gets the
right to receive bank o/d amount.
| Is This Answer Correct ? | 16 Yes | 2 No |
Answer / sandeepkumar_thakur
Bank overdraft is an asset of any bank bcoz bank is going to
charge interest on its. Bank O/D come in the Balance sheet
under loan and advances head. On the other hand Bank O/D is
liab for us and its come in liab side of Balancesheet under
secured loan head
| Is This Answer Correct ? | 12 Yes | 3 No |
Answer / vijayshankar
Bank Overdraft is an assets for bank and its liability for
us
| Is This Answer Correct ? | 9 Yes | 1 No |
Short Answer on _________Cost Accounting
What do u mean by MIS?
Calculate the profit/loss on sale of the following assets as on 30th september 2000 cost of the asset on 01.05.95 50000/- Salvage Value 5000/- Method of depriciation & date WDV 15% sales of asset on 30.09.2000 Rs 25000/-
explain accounting concepts
12 Answers Capital IQ, Manufacturing,
How do you identify the amount of realised gain or loss on the disposal of an investment asset?
2. You are required to prepare a Profit & Loss Account for the year ending 31st December, 2007 and the Balance Sheet on that date. The Trial Balance of XYZ Ltd. for the year ended 31st December 2007 is as follows:- Trial Balance of XYZ Ltd. as on 31st Dec. 2007 Debit Balances Rs. Credit Balances Rs. Materials used 3,50,000 Sales(including 2% Sales tax) 9,18,000 Cost of Labour 1,50,000 Sale of Scrap 100 Stock, finished and work in process on 31st December, 2006 50,000 Rent received 2,000 Wages : Factory Staff 15,000 Discounts 2,750 Directors Remuneration 50,000 Recovered against fire claim re : Stock 5,000 Salaries : Clerical Staff 75,000 Capital : Equity 25,000 Insurances : Workmen’s Compensation 1,500 Preference- 9% 8,000 General, fire etc. 2,000 Creditors 1,56,000 Directors’ Life Insurance 1,500 Provision for Taxation 1,05,000 Maintenance : Buildings 1,000 Profit & Loss Account 13,750 Plant and Machinery 12,500 Rent and Rates of premises and hire of plant 20,000 Heat, Light and Power 15,000 Experimental and Laboratory Expenses 10,000 Canteen Expenses 5,000 Staff Welfare expenses 2,500 Motor Expenses 12,500 Professional Charges 2,800 Postage and Telephone 3,500 Books, Printing and Stationery 11,000 Sundry expenses 10,000 Carriage and Packing on Sales 3,300 Discounts 5,000 Debtors 1,78,000 Freehold Property 50,000 Plant and Machinery 12,500 Fixtures and Fittings – Offices 3,500 Office machinery and Equipment 3,000 Motor Car and Van 6,500 Stock of materials on 31st Dec. 2007 1,20,000 Bank 38,000 Sales Tax Paid 15,000 12,35,600 12,35,600 Depreciation is to be provided at the following rates: Plant and Machinery 10% Fixture and Fittings 05% Office Machinery, etc. 10% Motor Vans and Cars 25% The stock of finished goods and work in progress as on 31st December, 2007 was Rs. 35,000. Provide for preference dividend and ordinary dividend at 10%. The total taxation liability is estimated at Rs.1,50,000 of which Rs. 75,000 relates to the current year. Debtors include Rs. 10,000 deposited as security against government contracts. The Works Manager is paid partly by salary and partly by a commission; he is entitled to a commission of 5% on the amount by which the surplus in the factory cost exceeds 20% of the sales for the period. Charge the commission if any in the Profit and Loss Account.
Total numbers of companies listed on stock Exchange?
Expand ________FDI
Explain Central Excise Duty?
Can any one explain me how profitability analysis s implemented in Sap & tell me which tables get effected by this... i want to know about copa_derive msgtypes also...
expand------SSTC
What goals do you have in your career
0 Answers Amdocs, GSK GlaxoSmithKline, IBPS, JPMorgan Chase,
Audit 
