A Company has accumulated losses of 84 lacs in its P&L A/C. It has Revaluation Reserve of 1.2crores in its B/S.
Its presentation under the head
Reserves & Surplus is
Rev Reserve Rs.1.2 crore
P&L A/c (84 lacs)
Total as on 31.03.2010 36 lacs
Is it right to present it like dis in B/S.
Thnks Shripal.... ya i also think dis is not the right presentation...its like setting off accumulated losses from revaluation reserve which we cannot do.
YOGESH KAPOOR AND ASSOCIATES
New Delhi
B.Com
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