can i deduct value of assets from capital instead of showing it in assets side.
can some please clear this concept i am not getting it, i have seen people deducting value of building from capital and not showing it in assets side.
Thanks in advance
Menu
ASSETS showing in balance sheet
Replies (3)
Quick Summary
balance sheet equation =
equity/capital = assets - liability
Net worth = reserves and surplus or assets - liabilities.
capital - assets = ? 50capital-100 assets = 50 liabilities? But assets are supposed to be shown on asset side.
Assets and liabilities need to be showed on the respective side of balance sheet and not on net basis.
if building is reduced from capital then it must be check if it's used for residential purpose.
if building is reduced from capital then it must be check if it's used for residential purpose.
No you cannot deduct assets from capital. You have to show it separately under Fixed Assets in Assets side of Balance Sheet
Recent Topics :
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
- Claiming business re-imbursements while filing GST
- E-waybill 14 Digit Numbring
- Non filing of MGT-14 for MD appointment
- HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
- Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
Related Topics :
CAclubindia
