Sir,
Assess accounting records maintained head office and branch office.but assess branch office rental income show in head office accounting books credited.
Question:
Assess how to accounting entry passed procedure for rental income
Head office books transferred to branch books .

Sir when sharewarrant are issued they give right to warrant holder to purchase shares at a predetermined rate and at a specified date so they create obligation on company to issue shares to warrant holders so it should be classified as liability but why they are shown in shareholders fund in balance sheet.

In case of making opening balance sheet after merger, I have two questions:-

1. Whether to make comparative opening Balance sheets or not??
2. If comparative Balance sheets are required then the last year balance sheet must be audited or not?

If someone had purchased fixed asset on credit and defaults in making the payment of fixed asset payment . still he is able to claim the depreciation and what is the treatment in income tax

Dear Sir, Thanks for your time for reading out my query and answering it.

Company A has acquired controlling interest (52% shares) in Company B on 15 April 2020 by subscribing to further issue of shares by Company B, face value Rs 10 at a premium of let's say, Rs 15 per share.

Thus net assets of Company B increased from eg Rs 500,000 on 1 April 2020 to Rs 12,50,000 on 15 April 2020 due to receiving the share application & securities premium premium money.

Assuming Company B did not earn any profit during this period, What value of Net assets will be considered for the purpose of Goodwill calculation?

Will it be Rs 5,00,000 or Rs 12,50,000 ?

Sir .While bringing IPO when the company share price of Rs 100 is issued at Rs 400 Per share . At the time of declaring dividend of Rs 10 per share . Why we call the company has given a dividend of 10% rate instead of 2.5% . We have invested a money of Rs 400 per share & on that we have earned a income .
Pls resolve

SIR,
It assess purchases of new car value rs:13,45,298/- tcs deducted value rs:10340/-
Question:
Assess how to passed accounting entries in books and which amount for car value.

I want to Invest in Mutual Fund for my Minor Son, please suggest if I can Invest under the following conditions.

1. Payment would be Given from my minor son's Bank Account
2. I ( His Father ) will be the first Holder and my Son will be the Nominee

As my son is a minor his books of accounts will be merged with my books therefore in whose books will I show the Mutual Fund Entry, my minor son or mine.

Secondly since the payment is made from my sons books and I his father being the first holder ( as a Guardian ), entry cannot be shown in my books as payment is not been made from my bank.
Secondly I cannot show in my sons books even though payment is made from his bank as the First holder is myself ( his Father ) and my PAN number would be given

Supposing
If I show the purchase entry in my minor sons books when Redemption will happen Long Term will reflect in my account as my PAN number is given, and I cannot calculate LTCG as there are no purchase shown in my books but purchase entry is shown in my minor sons books. So there cannot be Two LTCG, my sons as purchase entry is shown in his books and my books as PAN number for purchasing MF is linked with my name.

Secondly
If I show the purchase entry in my books, but payment is made from my minor sons bank account, and when redemption will happen then all the proceeds would go into my minor sons account as his details are given. Then problem is that if there are no purchase of MF then how the redemption proceeds he has received in his bank.
If I give my bank details for redemption , but payment is made from my minor sons bank, then how will I show for what this payment is made.

My question is how do I make the MF Purchase If
1. Payment is made from my sons Bank Account
2. I ( his Father ) is the First Holder as Guardian
3. My son is a Nominee
4. In whose books I show the Entry.


I hope I am clear with my query.

Hi
Hi

I would like to consult
an experienced cost accountant to learn how mfg journal entries are recorded in tally software. Application of standard rate for overhead and passing entries for over or under applied overhead. I know that overhead variation report features not available in tally.in that case we can use excel and record the difference in tally Will pay for the consultation time.please contact

Is BIS Expense Direct or Indirect Expense ?

Kindly confirm with explanation