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Deficit of income and expenditure

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19 September 2014 treatment of closing balance of deficit of income and expenditure account
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CA Devanand Jethanandani

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CA Devanand Jethanandani (Expert)
19 September 2014 Dear Jomy,

The deficit / loss is to be carried to capital account in case of an individual, to partners' capital account in case of partnership firm and to reserve and surplus in case of company.

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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
19 September 2014 yes correctly said..........................
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