Accounting treatment for slump sale
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 April 2014
what will be accounting treatment of recovery of deposits in the name of seller company in case of slump sale.
The business is already sold where such deposits were written off earlier but selling company now recovered such deposits in their name.what would be the treatment for the purpose of accounts in this case??
The business is already sold where such deposits were written off earlier but selling company now recovered such deposits in their name.what would be the treatment for the purpose of accounts in this case??
25 April 2014
According to me, it is capital receipts belonging to slump sale and should be chargeable as per capital gain rules.
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 April 2014
Hi..thanks for your reply.
I have a doubt that how such deposits recovered after slump sale in the name of the transferor shall be accounted in the books of transferor which was already treated bad debts before slump sale.kindly share the accounting entries
I have a doubt that how such deposits recovered after slump sale in the name of the transferor shall be accounted in the books of transferor which was already treated bad debts before slump sale.kindly share the accounting entries
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