banner_ad

Accounting Treatment of loss- sole prop to Pvt ltd co

This query is : Resolved 
Profile Image

Profile Image

(Querist)
12 February 2020 When a proprietorship concern is converted to Pvt ltd company, what will be the accounting treatment of carried forward loss of sole proprietorship concern?
Will it be shown in P&L statement as a loss or Balance sheet as a negative capital Reserve?
Profile Image

Aashok Kumar Sharma online

Profile Image

Aashok Kumar Sharma online (Expert)
23 May 2020 In case of a reorganisation of a business whereby a proprietorship or a partnership firm is converted into a company, the accumulated business loss and the unabsorbed depreciation of the predecessor firm can be carried forward by the company.

It will be shown in Financial Statement (Balance Sheet)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details