A builder has sold few flats and shown the same as sale. Now, buyer is not paying sales consideration, therefore, builder wants to shows the same as sales return. A period of about six month has passed after the sale. Hence, prices of flates have increased.

My question is at what price sales return should be shown ? (i.e. at the same price at which it was sold or at the price prevailling at the time of sales return) Kindly support the answer with relevant accounting standard.

How we decide provision for taxation? Please explain the entries and adjustments for advance tax,provision for tax ,Excess provision, and short provision?

Dear sir,

could you tell me what is open capital Po's

saradhi.

how to pass JV n the salary payment with break up??

eg: basic : Rs50, HRA : 50 and profession tax is 20..

while finalizing the accounts as on 31st March 2011 i have made short provision for audit fees , and filing fees now i have received the bill more than provision what should i do? please help me out .please guide me

how to pass entry in deceased assessee account to transfer all assets & liability on his legal hair?
following are the assets & liabilities


capital 100000
loan from friend50000
secured loan 20000
investment in shares 50000
flat 100000
cash 10000
bank 10000

Sir
If a company making retail sale like ( Sweet / Restaurent ) Sale and accepting cash as well as credit card also,THAN IN CASE OF CREDIT CARD SALE WHICH ENTRY WILL PASS IN BOOKS OF A/C & WHEN THE SALE TAX OF THE SAME TRANSACTION WILL DEPOSITE.


Thanks & Rgds

Mukesh Kumar

purchase goods on credit from monu with vat5% ki entry kya hogi aur yeh kis mode me jayegi

sir,
my attempt is in may 2012.i am giving exam after 5 years. i do not know much about applicability of ifrs in our paper 1.which type of use of ifrs ,will ask in exam. pls help.
mukesh goyal

Dear Sir,

We sold Product A - 1500 Kgs (USD90000) of Rs.40,72,000/- out of that 400Kgs Product - A has been returned by the Party .

My Query is what is entry of Sales return at what amount?

Thanks in advance........