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Where we show the Contingent Assets.
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contigent asset is a asset which may come in to the
bussiness in the future
for eg some kind of compencation may be received in future
for infringment of trade marks copy rights etc
normally contigent liab is shown as footnote but in comp
act their is no prov to show contigent asset as a footnote
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / a.r.somesh
Contingent Assets / Liabilities Are known only after a
certain period, hence they are shown in " Foot Note " in
Balance Sheet.
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / kaushal jha.
Contigent Assets is not show in the B/S it shows in foot
note near Balance Sheet
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / anagha
Contingent Assets / Liabilities Are known only after a
certain period, hence they are shown in " Foot Note " in
Balance Sheet.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / raghava.i
contingent assets are thouse assets which are some thing
happend then thouse assets are called contingent.
Ex: we ordered of any stock or mechanery from
ouside country they or comming on flight if when they was
safly received then thouse things are called contingent
assets.
| Is This Answer Correct ? | 6 Yes | 6 No |
Answer / ketki b
Contingent liabilities are not included in any accounts,
however they are shown below the Balance Sheet.
| Is This Answer Correct ? | 2 Yes | 9 No |
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Tell me if the company wants to enhance thier business and incured the cost on other building (like Buliding Material, Iron and Others) so we will put it in to the expenses or i have to put it into the Fixed asset land and buildin by passing this entry Land and Building (Dr) Bank/Cash/Detors) (Cr) Thanks
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