3. Discount on Issue of Shares
recorded
Answers
Answered by
28
Answer:
In the balance sheet, 'Discount on Issue of Shares Account' appears on the “Assets” side under the heading 'Miscellaneous Expenditure'. The account represents a fictitious asset and should be gradually written off by transfer to Profit and Loss Account although there is no legal compulsion to do so.
Similar questions
Math,
15 days ago
Math,
15 days ago
English,
1 month ago
CBSE BOARD X,
1 month ago
Math,
8 months ago