In my friend company accounts cash in hand shown in negative balance i.e (175000) because mostly he made cash expense entry ... their auditor told cash in hand cant shown negative balance in balance sheet so u delete some cash payment expense and also told cant shown loan by cash in balance sheet ... my friend want suggestion about how do claim all cash expense .. pls give suggestion to him regarding this

I am looking to begin a business as Sole Proprietor.Here are my questions,

1) Can i Open a current account in any bank as Solve proprietor?Is there any document that I must submit to them?
2) Should I register with the companies board?
3) Can i claim my expenses for official purposes spent on the business as sole proprietor, in the IT return?

hi all.. I have 2 queries..kindly help me to solve those..suppose, i had to manufacture a plant for my use and so i arrange one manufacturer for it. on 1 april 2010 it was started and by 30 sep 2011 it was about to be completed. The manufacturer manufactured the plant on 1/4/2011 ie. plant is complete but at the time of testing it was found that it is not as per our specification ie. its capacity is only 40% whereas it was agreed to manufacture the plant having the capacity of let suppose 60%. and i did not make any payment to manufacturer. also it was the general loan. Kindly advice me that if i have not paid any interest on any loan but it was due during the year, whether this interest can be capitalized which was not paid during the year 10-11?? and other case in this is whether this is a suspension of borrowing cost for current period or not? and interest can be capitalised or not in this period? please help..

In ITR6 director remuneration shown under salary and wages r misc expenses ... which method s correct pls clarify to me

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.