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Re: Closer Bank Account entry

This query is : Resolved 
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(Querist)
05 September 2022 The company is preparing a set of unaudited financial statements for the striking-off company. The bank balance funds have been transferred to the shareholder company. What's the correct entry to be posted?

DR: Other equity or Retained Result
CR: Bank
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
05 September 2022 Yes, pass the entry it's right.
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Aasta

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Aasta (Querist)
07 September 2022 Thank you for the advised. May i know under the cash flow statement, would it be under the "Financing activities" stated as Repayment equity? If it's in correct, what is the correct category?

Thanks
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
07 September 2022 Yes it's right.......
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