Partnership Firm conversion

This query is : Resolved 

03 September 2007 If a partnership firm gets converted to pvt ltd. co and suppose everything is unchanged except that capital of Rs. 8lacs is not there in luie of that shares of Rs. 5lacs are issued, what will be done of bal 3 lacs. will there be a reseve,if yes what reserve, and if no reserve then how will b/s tally?
Thank you

05 September 2007 Balance Rs.3 lakhs will be capital reserve - i.e. Profit on conversion



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

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries