Dear Sirs & Friends,

We are doing renewation of our new office., for the same we are carrying out massive carpentary work. One my colleague is of an opinion that we debit all these expenses to Construction Work In Progress, when we shift to the office all the items in CWIP will be capitalised. Is it feasible to do so. Please help me.

Dear Sir

I am doing backlog work of FY07-08 my client I.T.Advisor give me only three figure,i have nothing papers of previous year FY06-07 Balance Sheet,trading p&l a/c sheet.

Gross Receive 590000.00
Expenses 480000.00
N.P. 110000.00
------------------------------------------

i book all purchase & sales as below
Purchase 330570.00
Sales 590000.00

my query is how can i find opening stock value at 1.4.2007 and how can i find g.p. on 31.03.2008 and expenses sum of Rs. 480000.00

please guide me
thanks in advance
Arshad

hOW TO BOOK A TDS ENTRY FROM A TDS CERTIFICATE RECEIVE FROM PARTY ON 31 MARCH, FOR WHICH PARTY CREDITED IN HIS BOOKS AND PAID TO GOVERNMENT BUT PAYMENT NOT RECEIVED TILL 31 MARCH

I WANT TO KNOW THE BOOK ENTRY OF " CENTRAL PURCHASE , WHICH WE ARE PHYSICAL TAKEN IN APRIL11 INSTEAD OF MARCH DATED., THE INVOICE DATE ID MARCH 11.
" GROUP OF STOCK IN TRANSIT"
AND HOW I ENTER IN BALANCE SHEET "

THANKS
MAHESH

MY COMPANY IS CALCULATING RAW MATERIAL CONSUMED BY USING THE FOLLOWING FORMULA:
OPENING WIP XX
ADD: RAW MATERIAL ISSUED XX
LESS: CLOSING WIP XX


IS THE ABOVE FORMULA CORRECT???

A factory been closed because of license problem. whether assets relating to such business can be impaired if so whether such loss be adjusted in general reserve instead of charging the profit and loss.

Please clarify my doubts

hi
i have sold goods to my customer at a lower selling price by mistake.
now i want to recover the balance amount from my customer .So will i issue DEBIT or CREDIT NOTE?????

Ques:
Goods destroyed by fire Rs.80,000 and insurance company admitted 50% claim.This adjustment will be entered in
Options:
(a) Balance sheet
(b) Trading A/C
(c) P&LA/C
(d) All of the above

do the debtors outstanding as on 31st march needs to be converted as per exchange rate on that date, or as per actual realised date for debtors realised before we draft balancesheet bt after 31st march. as events occuring after b/s date. & b/s exchange rate for unrealised debtors,

Dear Sir
I need the guidance
Now days i am doing pending work of my client fin.year 2007-2008,for next month sales tax assesment.

the query is i am doing entry in a/c of local purchase bill's , in bill's the detail as below
1)
Material's 13333.33
OutPut Vat 12.50% 1666.67
Total Amount 15000.00

i am doing entry in tally as below
Cr. S.Creditors a/c 15000.00
Dr. Local Purchase a/c 13333.00
Dr. Input Vat 12.50% 1667.00
==========================================
2)
Material's 7658.65
OutPut Vat 4% 306.35
Total Amount 7965.00

i am doing entry in tally as below
Cr. S.Creditors a/c 7965.00
Dr. Local Purchase a/c 7659.00
Dr. Input Vat 4% 306.00

any criteria if i am doing entries as above in round of amount in input tax.

Waiting for reply
Thanks
Arshad