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First time balance sheet preparation

Shivam Agrawal

Can I show advance loan on assets side dummy. I want to create my file of good amt. As I have cash. Presently I am a student. Or suggest what can I show.

First-time balance sheet preparation: showing an advance loan as an asset questioned, advisor found the query unclear and gave no guidance. Whether an individual may record an advance loan on the assets side of a first-time balance sheet to reflect available cash is raised; the only advisory reply states the query is unclear and provides no substantive guidance on accounting classification, disclosure, or tax implications. (AI Summary)
Income Tax
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DR.MARIAPPAN GOVINDARAJAN on Jun 9, 2018

Your query is not clear

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