Sundry creditor (loan) write off limit provision applicable

You can write off the liability, as there is no limit specified in act; but what about the creditors, whether the actual liability ceases?

If yes, you can write off the liability, but IT officer may add the same to your income as per sec. 41(1) of IT act.

@ Honourable Dhirajlal sir



Accounting for bonus issue Journal entries...

1.sanction of an issue bonus shares

capital redemption reserve ac DR.
securities premium ac DR.
General reserve ac DR.
profit and loss ac DR.

Bonus to shareholders ac CR.

2.issue of bonus shares

Bonus to shareholders ac DR.
share capital ac CR

3.partly paid to fully paid..

General reserve ac DR
profit and loss ac DR

bonus to shareholders ac CR.

4.making final call due

share final call ac DR.
share capital ac CR

5. adjustment of final call
bonus to shareholders ac DR
share final call ac CR..


could you please explain me elaborately of this journal Entries transactions why it is in debit why it is in credit how to judge as per golden rules of accounting please explain with the golden rules of accounting this general entries

Refer:  guide/accounting-golden-rule

OR ..

accounting/golden-rules-of-accounting