while doing tally,it is seen that the figure of drawings is being carried forward in the next accounting yr. what closing entries should i pass in order to close the drawings account in the same yr. plz help!!!!!!!

help me to solve the given problem
Service Means providing Yoga treatment
Q. B Ltd take over the chain or Network business of A which is a trust are managed by the directors of B Ltd . Terms are ,
B Ltd agreed to take over the entire network of the business that has been made by the trust , by providing the service to the members of that chain or give a right to convert the benefit into contribution towards share capital of a tune of 50% of the amount paid by them. how it will be accounted according to GAAps and ACS ?

Dear Experts,
Our firm executes works contracts of various government organizations. Now my doubt is can we show the Receipts from them as Mobilization advances granted before actual commencement of work if it so what is the treatment for that.
Thanks in advance

Some expenditure had been done in respect of opening a business of a company before incorporation of the company. Please tell me, how to treat those expenditures in books of accounts? And which entry have to pass?

hai,

we are construction company, we have taken a project from NHAI to collect User fee.
a) our contract is to purely for collection
of user fee only.
b) Irrespective of Collection, we have to pay
to NHAI per week a fixed amount for a period of one year.

Q.1) we are not aware how to acccount these transaction..
Q.2) How to recognise the income ?
a) user fee collected from vehicles or
b) difference between amount paid to
NHAI and User fee collected ?
Q.3) How to recognise the Expenses ?
a) amount paid to NHAI or any thing..

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