Please give some light,
There is a real estate company,it incurrs cost on construction of buildings.How to record the direct cost like materials and all incurred specifically on a particular project? They are recorded as direct expenses or as WIP?

What is a procedure to be followed while taking over a partnership firm which have four partners by pvt ltd company? What is a consideration to be paid to said firm in reward for that?

Thanks for your kind reply.

Suppose our company use raw materia 'A' to manufacture product 'B' and raw material 'A' also manufactured in our unit. then how to calculate cost of consumed A material

Ex:-
We have 5000 unit of Rs. 2,00,000/- as opening stock,
We manufactured 95000 Unit which cost Rs. 95,00,000/-,
We sale 10000 unit at Rs. 5,00,000/-

We have 10000 unit at stock,

Now how to calculate Cost of Consumed 80000 unit and cost of closing stock

Dear Experts,

I need the procedure for how to make balance sheet & profit & loss A/c

can any one help me pls

Hi All,

I would like to know that what are books of accounts to be prepared for a hospital and how the audit to be performed in the hospital as per the records maintained by the hospital.

I want to know the books of accounts to be maintained as per the companies Act and as per the Income Tax Act.

Thanks,
CA M Sreenivasa Rao.

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???