Shruti (AM-Finance) (32 Points)
22 February 2011A Company has accumulated losses of 84 lacs in its P&L A/C. It has Revaluation Reserve of 1.2crores in its B/S.
Its presentation under the head
Reserves & Surplus is
Rev Reserve Rs.1.2 crore
P&L A/c (84 lacs)
Total as on 31.03.2010 36 lacs
Is it right to present it like dis in B/S.
CA SHRIPAL LUNIYA
(CA, CS Final & M.Com)
(744 Points)
Replied 23 February 2011
Shruti
(AM-Finance)
(32 Points)
Replied 26 February 2011
Thnks Shripal.... ya i also think dis is not the right presentation...its like setting off accumulated losses from revaluation reserve which we cannot do.
CAclubindia
