ACCOUNTANT (Student) (559 Points)
16 October 2020What is the entry for Disposal of shares in the books of parent., It was given
Bank a/c dr
to Investment a/c
is a wrong entry., and needs to be rectified recognising profit/loss on the sale of investment
please explain why this entry is wrong and also what is the rectification entry.
Please explain
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 16 October 2020
Debit end tax liability as well
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 16 October 2020
Forgo mention, recognise profit or loss from disposal
ACCOUNTANT
(Student)
(559 Points)
Replied 16 October 2020
prasad Nilugal
(3914 Points)
Replied 16 October 2020
ACCOUNTANT
(Student)
(559 Points)
Replied 16 October 2020
| Originally posted by : yasaswi gomes | ||
 |
Debit end tax liability as well |  |
I dint understand your answer., also it is said that the entry i gave is a wrong one., not meaning that it is incomplete.,
prasad Nilugal
(3914 Points)
Replied 16 October 2020
CAclubindia
