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Accountancy

How p and l is prepared when going concern is not assumed

Umayal Lakshmanan

CA Final

★ 6K+

14-May-22 19:17

166

Answers (2)

Best Answer

Closing stock is valued at NRV...as we going to sell it Penalty on early repayment is debited..as they closing loan account. Discount received on setttlement is recognised Defferred costs are fully ammortized. ..based on situation ...

Sajeetha R

CA Final

★ 45K+

14-May-22 20:02

Thank you

Thread Starter

Umayal Lakshmanan

CA Final

★ 6K+

14-May-22 20:07

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