Audit of hp

Others 488 views 2 replies

How is unpaid installments (due) to the hire vendor disclosed in Balance sheet?

Don't we have to state the fixed asset at full value in the b/s even if not paid?!

Also, if once the dividends are declared in meeting can they be revertred back in agm coz of insufficient profits?

Replies (2)
unpaid installments will be shown at the liability side of bal. sheet and fixed asset is always shown at historical cost. as per my opinion dividend once declared by the company in its AGM can not be reverted back due to insufficiency of profits.

Actually i wanna know "under which head the undue installments will be classified" in liabilities side?


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