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01 April 2020 at 21:02

INDAS16- Warehouse Leasing

Dear Experts

Company A has appointed a C&F Agent , who is providing the services from a warehouse owned by him/Lease from some one else.

Lets say the company pays Rs X as per month fixed charges that included use of the warehouse as well.
the company decides how the warehouse will be maintained , temperature etc among others .

In such a cases is there an identified asset . Do the company has a control over the use of the ware house .

Many Thanks in advance


01 April 2020 at 12:36

AS 18 disclosures

Is relative of KMP required to be disclosed as per AS 18 even though there is no transaction with the relative during the financial year


01 April 2020 at 08:08

Bank Reconsolation Query

Dear Sir,

My query is In Mar end case this query raise in Example (31st Mar our Bank Current Account Balance rs. 100/- and 1st Apr morning 7 am i transfer fund ABC Account rs. 90/- so in bank statement this entry reflect in transaction date is 31st mar and value date is 01st Apr so sir plz confirm which date to be consider in bank re consolation.


31 March 2020 at 16:54

Dividend

dividend is part of profit and loss account ?. or part of generel reserve. please guid me for accounting entry


28 March 2020 at 22:44

Credit note for written off assets

Hi,

I have received credit notes from vendors after fully writing off of assets in books. What will be the treatment of this along with journal entry.


28 March 2020 at 18:30

REAL ESTATE TRANSACTION ACCOUNTING

DEAR EXPERTS

HOPE ALL OF YOU ARE FYN!!!

MY QUERY IS ABOUT ACCOUNTING OF REAL ESTATE TRANSACTIONS. AS PER ICAI GUIDANCE NOTE ON ACCOUNTING FOR REAL ESTATE TRANSACTION, % OF COMPLETION METHOD IS REQUIRED TO BE APPLIED. IN MY CASE, IF 100% COST OF CONSTRUCTION IS INCURRED BY THE BUILDER THAN WHETHER PERCENTAGE OF COMPLETION METHOD CAN BE APPLIED ON THE SAME OR REVENUE WILL BE SALES AGREEMENT EXECUTED IN RESPECT OF THE PROJECT?

PLS CLARIFY THAT IF 100% COST OF CONSTRUCTION IS INCURRED HOW TO RECOGNIZE REVENUE?

THANKS IN ADVANCE


I am the Accountant of Construction Company I have one Doubt about the Subcontract Expenditure In Expenses in Books of Accounts of the Company

Site Expences and Labour and Other Expenditure Related to Site And Office we have Given a Sub Contract to One person he is Regularly giving the bill and We are Clearing the bill after Deducting TDS Now my doubt is How to that Expenditure in my Books of accounts, Can i Pass Journal Entry Item wise Like Site Expences ,labour Charges

Please give me the Suggestion on the above Query


hi sir,

this is santhosh from hyd i need one help this current year from our company 1 crore above cash withdrawal-ed by bank they are deducted 2% tds how to pass tds entry on cash withdrawal in tally pls do help


21 March 2020 at 16:51

Credit Note

SIR
We had dispatched the waste material to a party which amounts to Rs. 95720/- But they have returned our material due to quality issue to us without making any entry and issuing any debit note regarding this transaction. Can we raise credit note?


Hi ,

We have taken Rs 30L from a Chit Fund Company. and We have to repay the company 15% extra amount to Company with 30L amount in a year.

Please tell me how to pass the entry and is TDS is applicable to the excess amount?

Thanks
Dinesh



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