Re: Closer Bank Account entry

This query is : Resolved

Aasta (Querist)
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05 September 2022 The company is preparing a set of unaudited financial statements for the striking-off company. The bank balance funds have been transferred to the shareholder company. What's the correct entry to be posted?

DR: Other equity or Retained Result
CR: Bank

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 September 2022 Yes, pass the entry it's right.

Aasta

Aasta (Querist)
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07 September 2022 Thank you for the advised. May i know under the cash flow statement, would it be under the "Financing activities" stated as Repayment equity? If it's in correct, what is the correct category?

Thanks

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 September 2022 Yes it's right.......