Preliminery Expenses
This query is : Resolved
19 September 2009
Hi All
My query is abount accounting of preliminery expenses of Pvt. Ltd. Co.
Authorised, Issued & Sub Capital Rs. 1 Lakh
No Investment in Fixed Assets
Preliminery Expenses incurred Rs 16236
My Questions are:
1. 2.5% (max) of Prelm will be amortised ?
2. 1/10 will be allowed each year ?
3. if yes, what accounting treatment should be given for remaining exp
My query is abount accounting of preliminery expenses of Pvt. Ltd. Co.
Authorised, Issued & Sub Capital Rs. 1 Lakh
No Investment in Fixed Assets
Preliminery Expenses incurred Rs 16236
My Questions are:
1. 2.5% (max) of Prelm will be amortised ?
2. 1/10 will be allowed each year ?
3. if yes, what accounting treatment should be given for remaining exp
19 September 2009
u can't recognize preliminary exp now, as per AS 26
20 September 2009
agree with expert
21 September 2009
agree
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