Hello all... My friend is preparing a balance sheet of a client and that client had given share application money to a company and now that company is wound up...so my question is that how can it be written off in the books of accounts. whether he should show it as bad debt in p&l or any loss. Thanks
Menu
Write off???
Replies (1)
Not recoverable of Share application money is an investment loss. so debit Miscellaneous expenses and put it in Assets side in the Balance sheet.
Recent Topics :
- Capital gains on Sale of Transferred shares
- Unbarred returns
- One time commission filing in ITR2
- 600128 HSN rate
- Social Security benefit from US by resident
- E-way notices
- Itr form for Salary income, Interest, Dividend And
- Will my TDS be deducted as NRI?
- PENSION ARREAR RECEIVED - EPS 95 SCHEME
- Processing of Form 144 (prev 27Q)
Related Topics :
CAclubindia
