Preparation of financial statements

Written off means it will no longer be shown in BS

CA Suraj Lakhotia

Admin

11-Sep-21 12:43

Sir in one que they deducted from surplus(p&l a/c) under R&S head And in another que they don't ...

Thread Starter

S.K Anusha

CA Final

★ 17K+

11-Sep-21 12:46

You need to share quest

CA Suraj Lakhotia

Admin

11-Sep-21 12:47

In above attachment first'part is balance sheet and second part is p&l statement.preliminary experiences should be written of in p&l statement and not shown in balance sheet

Sairam Reddy

CA Final

★ 10K+

11-Sep-21 12:50

This are que's sir

Thread Starter

S.K Anusha

CA Final

★ 17K+

11-Sep-21 12:51

In illustration 2, was it not shown in PL as expenses?

CA Suraj Lakhotia

Admin

11-Sep-21 12:52

In illustration 1 also , can we show like that sir .i.e not showing in p&l and deduct from surplus in R&S

Thread Starter

S.K Anusha

CA Final

★ 17K+

11-Sep-21 12:56

Since you are preparing profit and loss, you need to show as an expense

CA Suraj Lakhotia

Admin

11-Sep-21 13:17

Ok sir tqq

Thread Starter

S.K Anusha

CA Final

★ 17K+

11-Sep-21 13:37