What would be the journal entry for disposal of investment for which diminution reserve has been created in accordance with AS-13.
Is it,Diminution a/c Dr
To P&La/c
OR
Diminution a/c Dr
To Investment a/c
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 06 August 2014
I think it should be like
Profit and Loss A/c ----------Dr/.
To- Investment A/c.
or
1. Dimination A/c
To Investment A/c
2. P & L A/c
To- Dimination A/c
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