Hi,

Can a company choose the method of depreciation differently for its different fixed assets. For eg: Straight Line Method according to the life time of the asset for Vehicle and WDV method as per rates given in Companies Act for Office Equipments in the same year. Consistency will be followed in the method of depreciation adopted for different assets.

a persone MR. X gives unsecured loan to Mr. Y and Mr. Y gives his Old car for full settlement of his account what entry should be paased in the books of Mr. X also give the Details of depreciation

Sir i want to know whether AS-11 is applicable to proprietorship business also.
Sir in the said business there are foreign debtors of 10000 dollars which are recorded in the books around Rs. 25000000 whether they are required to be revalued as per AS-11 at the closing rate on 31.03.2011 and the difference to be charged to profit and loss account.

i have entry one invoice entry two times

means
purchase a/c 100
vat 4
add. vat 1
total 105

how to revert entry

do i need to revert this entry by credit note or how ?


thanks in advance

A partner had not invested a single rupee in a firm as his capital contribution,is he eligible for Remuneration and Share of Profit.

Could you p;z let me know About Sec-44AF

dear sir/mam,
in F Y 2010-2011. previous employer made short pay tds for proffession services. but auditor checked and report me wrong happens tds . in year ending what entry made for adjustment of tds and inthis year it is use to pay or not? pleas tell me sir

hi,

plz help me regarding this issue

a 90 days letter of credit was issued by buyer to the seller..the seller produced the documents to the negotiating bank upon delivering the goods..the seller's bank discounted the bill & paid the amount..mean while the the seller's bank could not recover the amount from buyer's bank & letter of credit got expired after 90 days..henceforth the seller's bank without prior permission, deducted the discounted amount from seller's bank account.

kindly let me know, what legal action can seller take against seller's bank & buyer's bank.

According to Guidance Note issued by ICAI, MAT has to be taken under Loans and Advances in Balance Sheet whereas ASI 6 assumes MAT as a current tax which has to be dealt like Income Tax i.e shall be taken to Profit & Loss Account. What should be the proper accounting treatment?

We have taken a land on lease from Government for the period of 99 years.We have paid rs.10,00,000 for this land and we have to pay Rs. 20000/- per annum as lease rental.kindly tell us wheather this land will be treated as freehold land or lease hold land in our books and what is the accounitng tratment of Rs. 1000000/-this amount will be amortise in a period of 99 years or not.

Regards
Surendra