Question

provision for legal charges treatment in balance sheet​

Answer 1

ıllıllı ʜᴇʀᴇ ɪs ʏᴏᴜʀ ᴀɴsᴡᴇʀ ıllıllı

Legal expenses should form part of the income statement or statement of comprehensive income. But in cases in which such expenses aren't paid yet, it should form part of the liability section of statement of financial position or balance sheet. If payable within the normal course of the business or within 12 months whichever is longer, it should be classified as current liability.

ᴇʜsᴀss ^_^