sir in case of a private company the company is writting off preliminery expenses rs 8000 every year which is wrong but preliminery expenses allowed as per income tax act rs 1000 each year. this is the last year(5th year)OF DEDUCTION AS PER INCOME TAX ACT. I am confused whether DTA or DTL should be created ? PLZ ITS URGENT.

helo sir
we have printed manual bill book in series of for Retail invoice1 101to 350 and Tax invoice
501 to 750 but my Tally accounting I just book 99 Retail invoice and tax invoice 99
could you please tell me
What should I do either i carry my computer ganrate invoice numbering or manual numbering
Please suggest me.

Advance Thanks

dear,
please help me with Accounting procedure/steps with issuing EMD till get back / refund of those EMDs.

please advice in case of conversion of investment in shares to stock in trade at what values be they transferred??
As per IT Act sec 45(2) for the purpose of calculating capital gain the fair market value on the date of the conversion should be taken but that is only for the purpose of computation, can in accounts they be transferred at cost.
AS 13 states a rule for reclassification but I reckon the same is not applicable here as we are not reclassifying but converting!
PLEASE REPLY IT'S URGENT
THANKS IN ADVANCE.

I want to know when we making journal entry which account to be credited and debited on which rule that is accounting equation or golden principle of accounting

further i have doubt how to analyse a ledger account

DEAR SIR,

WHAT IS COST OF GOODS SOLD? WAHT IS MARGIN MONEY & WAHT IS BANK GUARANTEE .WHAT IS IT'S USE.

sir first thanks for your cooperation,
My question is how can i calculate ROI if my investment is 3 crore 25 lakhs,how can i calaulate ROI?

When goods bought / sold on cash are returned by the business / to the business, the concerned journal entries are:

(Returned by the business)
Cash A/C Dr.
To Purchases A/C


(Returned to the business)
Sales A/C Dr.
To Cash A/C



When goods bought / sold on credit are returned by the business / to the business, the concerned journal entries are:


(Returned by the business)
Supplier A/C Dr.
To Purchase Returns A/C or Returns Outward A/C


(Returned to the business)
Sales Returns A/C or Returns Outwards A/C Dr.
To Customer A/C


Question: Why in the 2nd case (return of goods purchased / sold on credit) do we use Purchase Returns A/C (or Returns Outwards A/C) / Sales Returns A/C (or Returns Inwards A/C) in place of Purchases A/C / Sales A/C?

Please let me know What would be the entry for creation of Employee welfare fund, The craetion of Welfare fund is out of deduction form salary of employee.

From the particulars given below prepare a claim for loss of profits
1. The sum of the policy is rs.51000
2. The indemnity period is 9 months
3. The fire occurred on 31st jan 1977 and the monthly sales figures for 1976 ans 1977 are as follows:
Month 1976 1977
Jan 17000 17000
Feb 16000 5500
Mar 24000 6000
Apr 17000 6000
May 15500 7000
June 16000 7000
July 16000 8500
Aug 16500 9500
Sep 15000 10400
Oct 15000 10000
Nov 16000 13000
Dec 16000 14000
4. The net loss for the year ended 31st dec 1976 was rs.35000 after debiting standing charges of rs.125000 of which the insured charges amounts to rs.100000
5. The total additional expenditure incurred in respect of the indemnity period was rs.30000
6. The saving in the insured standing charges for the indemnity period amounted to rs. 2760
7. It was agreed between the adjuster and insured that, but for the fire, the sales for the month of feb 1977 to dec 1977 owing to adverse trading conditions, would have been lower than those for the corresponding months of 1976. For the purpose of loss assessment it was agreed that a reduction of 10% should be made in the relative pre-fire sales figures.