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


Umayal Lakshmanan

Umayal Lakshmanan

CA Inter

3K+

14-May-22

43

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 ...

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Sajeetha R

Sajeetha R

CA Inter

41K+

14-May-22

Thank you


Thread Starter

Umayal Lakshmanan

Umayal Lakshmanan

CA Inter

3K+

14-May-22

All the best
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