12 September 2010
i had a short term capital loss in a.y. 2009-10 .....want to know wat is the accounting treatment for the s.t.c.g(loss)...to show it as current assets or deduct it from own capital a/c
13 September 2010
wen u incur a loss at the time of sale of asset, the loss is credited to the asset account and this loss is subsequently debited in the P/L a/c.
16 September 2010
a loss is incurred wen an asset is sold. since the asset in question no longer exists in ur books, where is the question of showing it in B/S ?
CAclubindia
