Suppose co. X is going for strike off. All the liabilities have been paid. The balance sheet stands as follow
Equity Share Capital - 100000
Misc exp not written off - 82500
Bank Balance - 17500
The bank balance of 17500 will be utilised for mca striking off charges. how will we close the books of company as well as shareholder? Can the company go for strike off?
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Voluntary Strike y
Replies (3)
Quick Summary
Yes, There will be nothing payable to shareholders as nothing will remain after paying off the strike off charges. after your get approval for strikeoff. pay off the balance and close all the ledgers to zero.
No the misc expenses will cease capitalising and becomes payables/outstanding expenses. It will be come a loss as this will reduce realisation account.
You have these problems online about stopping capitalising
Mis expenses a/c asset recognition
To Bank a/c
and again
Mis expenses written off
To MI’s expenses a/c asset.
By the way, is everyone able to post their questions online? I am not able to...
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