Advanced Accounting
This query is : Resolved
12 June 2020
As we write off intangible and fictitious assets in internal reconstruction.
We have to write it off whether it is given or not?
And also about patents, while solving problems I came across 1 adjustment in which balance of capital reduction is utilised for writing down patents.
And the given amount is 6000 and balance amount is 4000.
And the remaining 2000 is considered in the balance sheet after reconstruction.
Why??
What's the reason for it??
We have to write it off whether it is given or not?
And also about patents, while solving problems I came across 1 adjustment in which balance of capital reduction is utilised for writing down patents.
And the given amount is 6000 and balance amount is 4000.
And the remaining 2000 is considered in the balance sheet after reconstruction.
Why??
What's the reason for it??
09 August 2020
Because not all the balances have been set off with Capital Reduction Account...
The Capital Reduction Account is a temporary account opened in order to carry out the internal reconstruction. When the scheme is carried out, the account is closed. The Capital Reduction Account represents the sacrifice made by the Shareholders, Debenture-holders, Creditors etc.
The Capital Reduction Account is a temporary account opened in order to carry out the internal reconstruction. When the scheme is carried out, the account is closed. The Capital Reduction Account represents the sacrifice made by the Shareholders, Debenture-holders, Creditors etc.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- REGARDING ITR FILING QUESTION
- Requirement under FEMA &RBI
- CLOSING STOCK QUERY
- DUE DATE FOR ITR FILING
- Gst reverse charge mechanism to be claimed in the month of payment
- Error in uploading Form 10BD
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- GST ISD Query on various AMCs
- U/S 194 T
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
