How will you show Bank overdraft while preparing the Income and Expenditure Account and Balance sheet of a club? Option 1: Shown in expenditure side of Income and Expenditure A/c Option 2: Shown in Income side of Income and Expenditure A/c Option 3: Shown in Assets side of Balance Sheet Option 4: Shown in Liabilities side of Balance Sheet

The answer is 'Shown in Liabilities side of Balance Sheet'. View full solution:

CUET Accountancy - How will you show Bank overdraft while preparing the Income and Expenditure Account and Balance sheet of a club? | PYQs + Solutions

CUET Accountancy 2022 15 July Shift 2

Partnership

Easy

Shown in expenditure side of Income and Expenditure A/c

Shown in Income side of Income and Expenditure A/c

Shown in Assets side of Balance Sheet

Shown in Liabilities side of Balance Sheet

✅ Correct Option: 4