03 October 2012
Dear Friends Whether it can possible that a Pvt. Ltd. co. have Zero business since last 6-7 years and B/Sheet shows Liabilities:- Share Capital Rs. 100000/= Assets ;- Cash Rs. 3000/= Current Liabilities Rs. 30000/= i.e. net current assets Rs. (27000) and Accumulated Net loss Rs. 127000/=. There is no other items in B/Sheet No Bank A/c. My question is Capital Balance of 100000/= is adjusted with accumulated net loss in Assets side. Pl. advise.
03 October 2012
as per rev./ sch 6 -Debit balance of Profit and Loss Account to be shown as negative figure under the head Surplus. Therefore, reserve & surplus balance can be negative.
03 October 2012
Thanks friend But new form is not taking negative balance of Res & Surplus. Is it possible that this B/Sheet of Rs. 3000/= both side. Where the amount of Share Capital of Rs. 100000/= goes. In this case it goes in accumulated loss. Advise
03 October 2012
why it is not accepting, there is clear guidance on this matter that accumulated losses figure should be shown in liabilities side as negative........
03 October 2012
Sir I have try it several times. Have you try to feed negative figure. Pl. try and also advise us because in this forum others have the same query. Thanks
CAclubindia
