sir a running proprietorship business is transfered to the wife of proprietor due to death of the proprietor in the middle of the financial year 2010-11. Now i want to know how to trasnfer closing stock value (where inventory is maintained in tally 7.2) to his wife's account.

Dear Experts,

A Private Company which is a manufacturing unit is having 110 acres of Freehold Land and has Leased 2 acres of Land for 99 years. What should be accounting treatment for such transaction??

Thanking you in advance

Prithvi

Sir,
A doctor who has taken loan from freinds & relatives amonting to Rs.17,50,000/- Is interest will be paid to such people @ 8 % . In his Balance Sheet as on 31-03-2011 there is an accrued interest amonting to Rs.1,44,000/- which is due to this people. The loan is used for the purchase of Residential Propoerty.Kindly let me know what are the pros & cons of such transcation !

dear sir
how calculate the goodwill.we have any procedure or rules for show a goodwill in asset side as per income tax department.
thanking you in advance.

Dear All,

Kindly refer to the case below:

A private limited concern has authorised capital of Rs. 50 lakhs. It has also been incorporated with paid - up capital of Rs. 50 lakhs (by mistake).

Now, the situation is that it has to prepare its balance sheet for the first year. It has paid - up Capital of Rs. 50 lakhs on Liabilities side. What and how can the Company prepare its balance sheet? What items can it show on Assets side? What will be the correct accounting procedure?

It has not deposited the Paid -up capital entire amount in the Bank. It has just deposited Rs. 1 lakh.

Please help me out. It is a bit urgent.


Warm Regards

Sweta Todi
M.Com, A.C.S
9833189497

we are an (any types of goods importer) company and import some goods outside from india then i have to entered a Import voucher in Tally but problem is that entry should be entered in which date Invoice Date or Bill Of Entry Date or Bill of Lading Date
Purchase mujhe kis date mein lini chahiye or agar purchase 31st march me hai or goods trensit main hai jo ki 13 april me received karta hu to please uska bhi accounting treatment batao ?
I am waiting for your positive response
Thanks

We are in Gold Jewellery retail business, and had stock of 1000kg of gold on March 31, the average value of one gram is Rs. 1850/-. We conduct a Gold Savings Scheme, where the customers can deposit cash, on which they will get credit of gold weight upon the then prevailing market rate and customers can redeem this gold weight as and when they wish. (eg: a customer deposit Rs. 2000 on Jan 1, 2011 and his account is credited one gram gold, the then market rate of one gram gold was Rs. 2000). On March 31, outstanding gold weight in this particular scheme is 50kg gold, of which the average booked rate is 1950. These 50kg gold is not earmarked (specifically identified) in the 1000kg closing stock as the customers are yet to come. Market rate of gold as on March 31st is 2050. The auditors has made a provision of Rs. 50lakhs ((2050-1950)*50kg) for this gold savings scheme considering the market price as these gold are not earmarked in the closing stock. whether the auditors are right ? Establish your answer. You can also depend on AS, AAS or any guidance note.

Please any one give the answer of my queries regarding entries of assessement order
provision on fbt (fy 08-09) =4749/-
Self Asse. Fbt paid(fy 08-09) =5273/-

Above accounts are appearing in b/s as follow:
provision on fbt (fy 08-09) : liabilities
Self Asse. Fbt paid(fy 08-09 : Assets


As per Assessemnt order there is no demand or refund amount.So,what is the entry for FY 2010-11 when order recd.

my query not resolved yet. My question is when we should recognise export incentives in books of account.

1. we are providing service of laying of
LAN,WAN , NETWORKING.
2. we get the contract from the companies
for laying of the network and for sale
of items.( i.e divisible contract).
Normally the contract take 2 to 3 month
to complete.
3 my question is what kind of registration
we required in Delhi vat . should we go
for simple registration or should we go
for works contract registration.
4. and also how should we account for
income from these work contract. the
bill for laying of lan and for sale of
material is issued after completion of
contact