I have a tangible asset of Rs. 7,00,000 in my Balance Sheet after netting off the Accumulated Depreciation Now I want to close the company by Writing off the Assets & Liabilities So can any one let me know the Entry for Writing off the Intangible Assets of Rs. 7,00,000 1. Whether it should be written off to P & L Account ? if yes under which Ledger head 2. Otherwise should it be adjusted against Reserves & Surplus ?
CAclubindia
