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Why discount on issue of debenture is shown as ficitious
assest in Balance sheet ..? same why preliminary expenses
ia also shown as ficitious assets in Balance sheet :?
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Answer / chetan
Discount on issue of debentrue will be consider as a long
term expenses because debentrue is long term investment and
what ever expenses incured to issue we will not show in p&l
account it will be considered for the life time of the
debentrue
And preliminary exp is capital expenditure and what ever
exp incured before incorporation of the comp is considered
to be preliminary exp and it will be write off in 5 equal
installments as per income tax act.
| Is This Answer Correct ? | 25 Yes | 4 No |
Answer / sumanta
Discount on issue of debenture is capital loss.and the total amount needs to charge every year into PL a/c to written off it and the remaining amount come under asset side under the head of Miscellaneous expenditure.
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / radhika didwania
It is shown in pl a/c in finance cost.
| Is This Answer Correct ? | 1 Yes | 1 No |
Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Instructions: Prepare the necessary entries for the declaration and payment of the stock dividend.
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