23 September 2011
cumulative loss is greater then loan+ capital so sources of fund is negative.net current assets is negative and which is more then fixed assets so application of fund is also negative. CAN WE SHOW THE NEGATIVE FIGURE IN SOURCES OF FUND AND APPLICATION OF FUND IN THE AUDITED BALANCE SHEET.
29 September 2011
Yes, very well You can show it even revised Schedule VI specifically contains note regarding this. Kindly let me know whether this solution has solved your query. Regards, CS Sumat Singhal
CAclubindia
