fixed assets value wrongly taken at financial closing
This query is : Resolved
23 February 2009
A company capitalised its asset for Rs. 10,00,000 and closed its financials for 2007-08. In 2008-09 while reconcilation with party accounts, it found that actual asset cost was Rs. 15,00,000.
Now what will be the accounting procedure for this situation
Now what will be the accounting procedure for this situation
24 February 2009
provide last year dep as prior period exp & capitalize the asset.
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
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- EXPORT COMMERCIAL INVOICE HSN CODE
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- ITR 4 and Bank transactions
- ITDS U/S.194T of Firm
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
