Easy Office
LCI Learning

cessation of a liability - accounting treatment

This query is : Resolved 
Profile Image

Profile Image

(Querist)
29 April 2009 sir, one of our clients, a PSU, has got a waiver of loan from the Govt of india, amounting to Rs.400 Crores. I need to know the accounting treatment and also the presentation of this in the final accounts. Can you suggest please
Profile Image

CA Devin

Profile Image

CA Devin (Expert)
29 April 2009 U may credit Balance wriiten back and debit the liability A/c.

This Balance written back should be credited in "other incomes" in the group "Indirect Incomes"

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links