Adv accounting adjustment doubt

Dr. Payables - 72000 Cr. Share capital - 36000 Cr. Capital Reduction 36000

CA Suraj Lakhotia

Admin

01-Oct-23 14:59

What is total trade payables

Prasanth Kumar

CA Inter

★ 13K+

30-Sep-23 16:48

Total trade payable gets transferred to reconstruct a/c 50% of which cancelled and for 50% issued equity shares

Shrikant

CA Inter

★ 1K+

30-Sep-23 18:13

Only 36000 should be transferred to Capital Reduction a/c right? Why 72000 has been debited

Thread Starter

Revathy N

CA Final

★ 9K+

01-Oct-23 11:35

Entire 72k since entire trade payable getting cancelled , then for 50% issued shares and rest 50%payables canceled

Shrikant

CA Inter

★ 1K+

01-Oct-23 11:47