Opening Stock - Nil

Purchases
a. Shell white granite - 306 sft. @ 86/- per sft.
b. Shell white granite - 252 sft. @ 89/- per sft.
c. Red granite - 86 sft. @ 175/- per sft.

Sales
a. Shell white granite - 336 sft. @ 93/- per sft.
b. Red Granite - 94 sft. @ 190/- per sft.

What is the closing stock?

Please answer the closing stock step by step in detail.

I wish to know whether it is compulsary to charge depreciation under Companies Act even if asset is no longer in the use for business. Suppse building in this case.
Give support for your answer.

Regards
Ritesh

Hi all
I wish to know whether a Fixed assets "say building used by the company in the previous years" be converted in to invetments in the books of accounts. As the business of assesee is ceased and there is no such activity in the business. Also the said building is given by the Company to its directors for residential purpose and the perks of the same were also taxed in the hands of the directors every year. We are claiming depreciation on the said building both in the Co Act and I tax Act.
Now i want to know whether the Company could convert this FA into investment, if yes, then what are the implications both under I tax & Co Act and, if not, then why not.
If not, atleast can we stop charging depreciation on the said building under both the acts.
Please support your answer.
Regards
Ritesh Garg

does vat falls in p& L account as per below

input vat : 100
Out put vat : 120
--------------------
balance : 20
-------------------

this will be paid by the company
does it fall in P&L account expenses side

Can any one tell me the Accounting Disclosure of the Division of a firm.
My Query Is...
If i have maintained separate accounts for both division & a firm.
Then at time of Preparing the Balance-sheet.
Should I Treat it as a separate Branch & then consolidate the balance-sheet or just shown firm & a single firm balance-sheet.
Plz if anyone have detailed knowledge about it..
Plz reply me ASAP.

SIR
OUR CO.MAKE SOME ADDITIONAL WORK FOR ONE PERSON AND WE RECEIVED RS.5000/- AND MAKE ENTRY IN (31/03/11)
BANK DR
TO
OTHER INCOME
BUT NOW (30/07/2011) OUR MANAGEMENT TOLD ME OUT OF THIS 5,000/- WE HAVE TO PAY 2,500/- FOR ANOTHER PERSON BEACUSE HE SPEND THIS AMOUNT
CAN YOU GIVE ME THE ENTRY FOR THIS PROBLEMS
THANKS IN ADVANCE

I am using the option "Track additional cost of purchases" in Tally.
For Eg: Goods Value = 9000 + Freight(Additional Cost) 1000 = Total Purchase 10000
Now, i want to ask, how to view the details of additional cost for purchases.
Kindly help and resolve my query.

A manufacturing company purchase a printer for office use.
Purchase price Rs 5200.00 (includes vat Rs 200.00).
Please inform me , it is Asset & the Accounting entry.

sir ........i dont understand the provision .why it is created? provision for distribution bill, exp wht is the purpose of creating??

Is it any rule in income tax that we can not receive gift more than 50000 from non relatives.