28 August 2012
Dear Sir, One of my client incurred some preliminary expences like Sales tax registration fee etc. at the time of set up his business in FY 2011-12. Now my query is that, should I show it in the debit side of P&L A/c as expences or I should subtract it from Capital of the proprietor in the Liabilities side of balance sheet. Please advise me.
CAclubindia
