Investment a/c's
This query is : Resolved
12 September 2010
Q: An unquoted long term investment is carried in the books at cost of Rs.2 lac. The published accounts of unlisted company received in may,2009 showed that the company has incurred cash losses with decline market share and the long term investment may not fetch more than Rs.20000. How you will deal with it in the financial statement of investing company for the year ended 31.3.2009.
plzz answer me soon....i've 2 more Q. regarding this chapter....thanxx in advance
plzz answer me soon....i've 2 more Q. regarding this chapter....thanxx in advance
13 September 2010
You may book the difference (Rs. 180000/-) as provision for diminishing value of investment.
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