WE RECEIVED A STATE GOVT GRANT OF Rs. 100000 FOR PURCHASE OF MACHINERY-
suppose
(1)we purchase rs.90000 machinery
(2)we purchase rs.120000 machinery
in both cases what is a/c entry passes(where reflects profit & loss a/c or balancesheet):-
(a) when we received rs.100000 gov. grant
(b) when we purchase rs.90000 machinery
(c) when we purchase rs.120000 machinery
(d)depreciation entry

Hi,

A company has bought lot of books for their reference. 50% of them are subject books which will be used for the development of the business and the balance 50% are management books which will be kept in the library of the company.

Can the subject books be treated as asset?

As per IT Act, depreciation rate for such books is 60%, but Companies Act do not specify the rate.

Can the books to be kept in library be written off as expenses.

Please advice and give comments.

fright is paid on following transaction.guide me what is the proper head to be record.
1. fright paid on purchase by businessman
2.freight paid on purchase returnby businessman
3.fright paid on salesby businessman
4.freight paid on sales return.by businessman

I have run a proprietorship firm from 1997. The firm beginning time I took the unsecured loan from my relatives. He deposited Rs. 65 Lac in my a/c & shown same entry in his Books. But that time unfortunately same entry shown in my books Rs. 61 Lac . Now we clear this entry in our both book

Hi

In Stat of Affairs what we show on Asset side as "Investment in Bussiness" should it be the same what we show as capital in the business Balance sheet

Dear Sir,

I filed return 2730750 gross profit as 44AF i treat income 218460 how i put etntry in tally because next year i put cash in my account than by cashbook going nagative

Dear Sir,

in my indivisual books i have profit of rs. 10000 than how cerry forward next year which entry will be pass in tally

i am running a restaurant and i am willing to know what are direct and indirect expenses .
for example raw materail purchase is a direct expenses, fuel , coal and gas are direct or indirect expense.

what is the best method of accounting for daily basis monitoring the restaurant business

DEAR SIRS

PLEASE EXPLAIN ME ABOUT LETTER OF CREDIT
HOW IT SECURED TO THE SELLER & WHAT ARE THE FORMALITIES.

If on the any assets we charged full depreciation but our assets is in good condition and we can take benefit then how can we show of this assets in our financial books (As per the Balance sheet). Please Advise me
Thanking you
Regards of
suman kumar thakur