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shedule VI

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(Querist)
27 July 2007 Whether Debit balance in Profit and Loss account is reqiured to be set off against General reserves or it can be seprately shown in Assets side under miscellaous Exp.
As its effect in computing Net Worth would be different .
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CA.P. ARUMUGARAJ, ACA

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CA.P. ARUMUGARAJ, ACA (Expert)
27 July 2007 If general reserve get exhausted i.e., the debit balance in profi and loss a/c exceeds the Group reserves and surplus then the unadjusted balance should be placed under miscellaneous expenses group in the asset side
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CA Mani

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CA Mani (Expert)
02 August 2007 Raj sir,

Can you explain it clearly?
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CA Nikita

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CA Nikita (Expert)
05 August 2007 hi!!!

Though the calculation for net worth will but yet the dr. bal. in P/L a/c should appear in Assets side under miscellaous Exp...
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CA Mani

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CA Mani (Expert)
06 August 2007 Yes, Nikita is right.

Debit balance in P&L - To be disclosed in Assets side under Misc. Exp's.
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CA. GOPAL SONIKA

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CA. GOPAL SONIKA (Expert)
04 March 2008 To be shown seperately
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