can shares be shown at book value in the balance sheet of a proprietary firm????
or it has to be shown at market value.... plz reply....
Neha Bhattar (none) (170 Points)
12 September 2013can shares be shown at book value in the balance sheet of a proprietary firm????
or it has to be shown at market value.... plz reply....
Devendra
(Chartered Accountant)
(4775 Points)
Replied 12 September 2013
If the shares are Long Term Assets then the same shall be recorded at cost. Whereas if they are to be sold within a year then they shall be recorded at cost or market value whichever is lower.
Regards,
Devendra Kulkarni
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
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