hey i m an ipcc student and this is a query regarding as 2 'valuation of inventories'
the sum is
y ltd purchased 500 raw materials @ Rs 150 per unit gross less 10% trade discount sales tax is chargeable on the net price. the excise duty on product is Rs 12 per unit against which MODVAT can be claimed .The company spent Rs 1000 on transportation and Rs500 on loading and unloading . Calculate the cost of purchase of raw materials
please help me solve this asap... thank you!

If office building is to be capitalised under the category of Non factory building or office Building, then what about the heavy equipments installed for such building i.e. like Heavy DG set, Heating ventilation and water treatment plant, water chillers, Lifts etc. Under which category should these assets be capitalised.
1. Plant and Machinery
2. Electrical Equipments( DG sets)
3. or any other category,

A building constructed by the company for office purpose but is also used for manufacturing of sample products. I want to know if complete building will be capitalised under category Non Factory Building/Office Building or we have to proportion it under factory and Non factory Building.

Dear Sir,

Can you suggest me what is the maximum limit elegible for rebate on Higher Education other then educational allowance.

Thanks

iam working in an export firm . i want to know journal entries for foreign bill purchase ,entries for packing credit loan , related entries for current a/c etc

A Propritor has purchased A.C. Rs.26000.00 and its installed at his Home.

his Prop.Shop is not in his home its away from his house.

Can the Air Cond A/c capitilised as fix asset OR Shown to Drawing.

Please Reply.

Hi,

In Feb-11month in our office fire accident is happend and some worth of Rs.25lakhs servers burnt and not usable of those servers, can u explain how to treat accounting

What is the full form of FIDBC and CAIBC ( use by bank Import and Export case )and difference between .

Dear All,

plz my solve quaries.

example:
1.we salary paid F.Y 09-10 & tds deducted & deposited but cheque not issued to employee till dated.
how salary expenses reverse in next financial year 10-11 & new cheque issued.

this ism urgent.

Thanking You

if i import goods by making advance payment then whether i should account for foreign exchange gain/loss or not?