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Explain in simple terms

Accountancy

1) What is meant by carrying amount? 2) Waht is the difference between cancellation and reduction of share capital ( give an example )

Nayani Agarwal

CA Inter

★ 1K+

04-Oct-23 09:19

305

Answers (1)

Carrying amount means book value. Example asset valued after depreciation. Cancellation of share capital means already issued shares are cancelled In case of reduction, the corresponding amount would be debited with the amount of reduction

Soon to be CA

CA Inter

★ 4K+

04-Oct-23 11:09