Dear Sirs/Madam

According to AS 13, When right shares are brought on cum right basis ( say @ Rs.105) and if the post rights issue price drops to a price lower than the acquisition cost ( say Rs.100),then according to AS 13 the sale proceeds from sale of rights ( say Rs.7) are used for REDUCING THE COST OF INVESTMENT TO REFLECT ITS MARKET VALUE and any excess sale proceeds ( of Rs.2) treated as income.
what is the case if post rights issue price drops down to Rs.95, in this case we can reduce from Cost only to the extent of Rs.7 which brings the Invest.to Rs.98 (105-7.whereas the market price is @ Rs.95. how far is it justified to say that investment shall be brought down to reflect market value?? bringing down the value from 98 to 95 is not deinately justified because we do valuatino on the closing day but not on post rights day.

Kindly clarify.

Sir
please anyone can give me one example s of contingent asset and how it will be recorded in books of account please give me the j/entry also (accrual basis)
thank you

CAN WE DEPOSIT TDS QUARTERLY. IF YES, IN WHICH CONDITION.

KAMAL SHARMA

Dear Sir,
I Have Raised A Sell Bill Amt. Rs. 12,00,000 In The Month Of March 2011. (Sales international Package tour). But Tour service Provided In The Month Of May 2011. After The end Of The F.y. And Co. Also Booked Hotel , Transport And Other services Current F.y. So. In This Case My last Year Profit Is increase By rs. 12 Lac And C.Y. Loss Rs. 12 Lac. Pls Tell Me About Accounting Policy And Procesure.

My question is if I sign a Works contract in Feb 2011 and received advance in March 2011 but the works actually started in April 2011 can I book advance received as my income on 31st March 2011 as income for the F Y 2010-11. pls suggest

Dear Experts,

we have paid remuneration to a director @ Rs. 10K p.m. for the f.y. 2010-11. remuneration paid on 07.04.11 for the m.o. march and made a provision entry remuneration payable to director of Rs. 20K on 31.03.11 for non payment for the m.o. march 11

so when i am doing salary certificate (10-11) what amt to show is it 10Kx11 = 110000/- or 10Kx12=120000/- please guide me

REPAYMENT OF SECURED LOAN INVESTING ACTIVITIES OR FINANCING ACTIVITIES AS PER AS-3, I THINK FINANCING BUT I SEE IN A AUDITED BALANCE SHEET IT TAKEN IN INVESTING ACTIVITIES SO I AM CONFUSED ,,,

Experts

In some questions it is not mentioned whether it is Amalgamation in the nature of purchase or merger. So, can we assume any method in these sort of questions ? or First we have to check the Five conditions of merger & then decide ?

Plz answer from Exam Point of view.

My client is planning of form local political party ...the party is already registered but i want to know the its accounting.....what all items are to be considered while making the financial statement.... and what points are to be considered for audit of such political party...
Please reply on urgent basis

Dear Sir,
i am accountant of a electronic firm, i am making balance sheet of firm, pls. provide me Deprciationn rate according to co. act,
i am confuse that, rate of deperation on mould -40%, but mould is co. under plant & machinery, so i charge deperation on mould 40% or 13.91%, because on plant &machinery depr. rate 13.91%
so pls. guide me

Thanks,

Umesh Bhardwaj