What will be the accounting treatment, if liabilities under the account head of Sundry creditors in the books of a limited company paid by a sole proprietorship firm with considering that the liability will no more with the limited company for those sundry creditors whereas in exchange of that the Proprietor (resigned as Director of that Pvt. Ltd. Co.)was not received any assets value from the said company.

when goods are imported, when we will take into accounts? whether at the time of goods received or at the time of rewarehousing certificate issued and what conversion rate to be taken?

This is mukesh here Can anybody solve my problem?i want to know that "if in a trial balance & as well as in balance sheet also of a company showing difference in opening balance since 4 years, how to tally that difference? Please tell the process.

in final accounts we have to state exp. incurred in foreign currency during the year. whether it should be only revenue expense ( charged to P & L ) or it includes exp incurred to purchase capital asset also

as per the recent announcement dated 3-6-2011 by ICAI revised schedule VI is not applicable to CA final n pcc/ipcc students giving exams in november 2011
but the problem is since i have started taking coaching of accounts from june(2011),my teacher is teaching according to new pattern so i want to know can i write the answers accrding to new pattern or if not then how can i cope up with the new format & old format for exam purpose??
regards

A Factory shed of the assessee was destroyed in fire. The assessee spent Rs 65000/- on rebuilding the factory shed.

Whether it is capital expenditure or Revenue expenditure.

Dear Sir / Madam,
In F.Y. 2004-05 what was the CST (%) rate?

Thanking You,

purchase of accounting software for manuffacturing company.
what is the accounting treatment.
should we take accounting software as fixed assest or treat as a normal ongoing expenses and debit to p&l account.

hi…I want 2 know when a company should make Provision for Gratuity & Leave salary ??? I am doing audit of a private limited company. It has completed 15 years. Secured loans 01/04/2010 - 31/03/2011 is 481682 and unsecure loans of 5 lakh. Employees are not covered u/s 217 (2A). Do this company has to make provisions. Reply ASAP. plz....

Hi Expert if I have Purchased assset from out side india on 1/4/2010 and for which I had given advance(Whole Price as an Advance) So whether at the time of of Purchase od Asset What price we should book in Accounts For asset as on 1/4/2010,,, Whether amount given as an advance considered as Amount of Fixed Asset Or Asset shoul be recorded with Fluctuated Dollar price As on 1/4/2010.. Pleas give me Reply