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Write off???


Nitish Agrawal (CA)     09 November 2016

Nitish Agrawal
CA 
 93 likes  810 points

| My Other Post

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

avater

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)     10 November 2016

Rama chary Rachakonda
Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294 
 69 likes  1161 points

View Profile | My Other Post

Not recoverable of Share application money is an investment loss. so debit Miscellaneous expenses and put it in Assets side in the Balance sheet.  

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