suppose i have imported goods on 1st may 2011 worth usd 25000.
now on that date my bank gives me an import loan.
the rate of interest is 10% and loan period is 6 months.

if i am following accrual basis of accounting, then when will i record the outstanding interest entry? & what will be the entries???

Sir,
How there shown, If profit.
How there shown, if loss .


Same query in personal balance sheet & companies balance sheet.

sir,
ours is private ltd. co. & in moa share capital is rs. 1 lac. its regd. on 11/9/2010. & 2 directors are there & cash brought in by them is there
what entry should i pass
urgent

HI PEOPLE,

I am facing problems while studying pcc. I am a below average student can't understand things easily and i have chosen not to go for tutions for pcc, but some of my friends say some concepts cant be cleared without tutions, so can some one tell me which one of these books should be chosen for self study for accounts in pcc in punjab which can clear all my concepts without leaving doubts, please tell me if there is any other book also better than those mentioned below:

1. Dr. PC Tulsian
2. Praveen Sharma
3. BM Aggarwal
4. Shukla & Aggarwal
5. RL Gupta
6. MP VijayKumar
7. Hanif & Mukherjee
8. Padhukas

what r the tangeble assets & intangeble assets plz tell me in brief

what is defered tax how its accounting

Dear Respective sir,

I would like to know if partnership company
having two partner,
on partner taking salary and other partner is not taking salary.

will tds applicable on partner salary?

Dear All,

My doubt is regarding few expenses that were supposed to be given effect in the previous year as outstanding expenses, like telephone bill..but they wer not shown in the prev accounts. In this case when the payment is made in this current year, should we show it as prior period income or Current year expenditure??
Hope to get a reply asap..
Thanks for the reply in advance..

what is accounting treatment provision for deprecation when asset is sold?

Respected All,
We are purchased materials against Form C.
Kindly clarify Form C is issued for Quarterly basis or annual basis.

Thankyou.