Answer to Question #134288 in Accounting for Amit

Question #134288
Give the treatment of loss prior to incorporation
1
Expert's answer
2020-09-28T07:53:24-0400

The loss suffered prior to incorporation is treated as capital loss. Consequently, it is credited to the reserve account and the same is debited to goodwill account.


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS