Plz tell me, Business started by Cash.
Then entry will be: Cash A/c Dr
Capital A/c Cr

If Business started by Self Cheque, Then Entry will be?
plz tell me this entry.

Dear all,
Please let me know what is the accounting treatment of following transaction.
ABC Co. Purchased a Vehicle (Car) of Rs.30,00,000/-
Loan from Bank is about 20,00,000/-
Balance Rs.10,00,000/-
Margin Money is Rs.100,000/-
R. Tax etc. Rs.250000/-
Total Payment to Dealer=Rs.13,50,000/-
Cash Discount given by dealer=Rs.50,000/-
Net Payment=Rs.13,00,000/-

Please Reply soon.
Thanks in advance..

Dear friends

I have a query about service tax on factory rent. Our Co is paying factory rent of Rs. 61355. and Tds deduction is Rs. 6136/- (10%) Now the factory owner is asking us to pay service tax also. My question is, How much will be service tax on rent. Is it 12.36%.
Should I add service tax amount to rent while calculation TDS.
rent - 61,355
service tax 7,583
--------
68,938
less tds @10% 6136

Rent payable = 62802

Is my calculation correct? Please help

Sir,

A company has entered into the hedging agreement for dollar rate.

they utilized the contract for payment, which was in EURO.

how would they account for this transaction.

Is the Repair & Maintenance of machinery is applicable for TDS.Pls clarify me.

As per AS 2, treatment of Fixed OH in case of lower actual production as compare with normal capacity is as under.

Normal Capacity : Units 2000
Fixed OH : Rs. 500000
Actual Production : Units 1500
Sales : Units 1000
Closing Stock : Units 500

Fixed OH bifurcated in following manner.

Absorption Rate : 500000/2000 = Rs. 250

(A) Charge to Cost of Sales
= 1000*250 = 2500000

(B) Charge to Closing Stock
= 500*250 = 125000

(C) Under Recovery charge to P/L A/c
= 500*250 = 125000

QUESTION IS THAT HERE FIXED OH IS TAKEN IS BUDGETED OR IT WILL BE ACTUAL.

SIR,

WE ARE PROPRIETOR FIRM WANT TO KNOE DEPRECIATION RATES FOR AY 2012-13 FOR BELOW MANTIONED FIXED ASSETS.AS PER IT

1-CAR
2-A/C
3-BIKE
4-FAX M/C
5-PLANT & MACHINERY
6-OFFICE EQUIPMENT
7-PUMP
8-TELEPHONE & MOBILE
9-FAN
10- RENTED (given) GODOWN

My client has paid ROC fees to increase the authorised capital. same has been shown as advance in asset side on 31st march.

As the company is going to issue share on 10th of may they are saying they will adjust it with share premium.

Please tell the correct accounting treatment of the expense. and please give the reference of Accounting standard or companies act.

Thanks in Advance

Regards
Piyush

i want to know how much marks is alloted for an answer where the balance sheet does not tally. where the working notes and presentation are ellaborate and only the balance sheet remains to be tallied.for eg if its a 16 marks answer how much marks might i acquire?

Dear sir i take pan no of my huf & now this year i give 11000 from my bank account to my huf account than in which head i saw this amount in my huf account & my idivisual account in tally