IN THE CHAPTER ACCOUNT CURRENT
A OWED Rs 3,000 ON 1st JANUARY TO Mr C.THE FOLLOWING TRANSACTIONS THAT TOOK PLACE B/W THEM DURING 2008.IT IS AGREED B/W PARTIES THAT INTEREST @ 12% p.a IS CALCULATED ON ALL TRANSACTIONS

2008

JAN 16 Mr C SOLD GOODS TO A Rs 2000

JAN 29 Mr C PURCHASED GOODS FROM A. Rs 1500

FEB 10 Mr C PAYS CASH Rs 1500

MARCH 9 Mr A ACCEPTS A BILL DRAWN BY C FOR 1 MONTH Rs 2000

THEY DESIRE TO SETTLE THEIR A/C BY 1 SINGLE PAYMENT ON 15th MARCH 2008.ASCERTAIN THE AMOUNT TO BE PAID.

DEAR Sir/Madam

PLEASE SUGGEST I AM WRITE OR WRONG IN G.P. & N.P. CALCULATION.

ITS A PROP. FIRM PREVIOUS FINANCIAL YEAR 09-10 M/s.X COLOR CLOSING DT 31.03.10 G.P. IS 12.28% & N.P. IS 2.89%

THIS YEAR M/s.X COLOR CONVERT PROP. FIRM TO PARTNERSHIP FIRM EFFECTED ON 01.01.2011 SO WE CLOSED THE ACCOUNT ON DT.31.12.10 AS PROP. FIRM

THE REQ. SUGGESTION IS HOW TO CALCULATE THE G.P. AND N.P. ON 31.12.10 IF WE MAINTAIN THE % AS PREV.YEAR CLOSING.

I AM DOING AS BELOW

PREVIOUS YEAR G.P. 12.28% / 4 MONTH = 3.07% X 3 MONTH = 9.21% IS IT RIGHT OR WRONG ?

PREVIOUS YEAR N.P. 2.89% / 4 MONTH = 0.7225% X 3 MONTH = 2.1675% IS IT RIGHT OR WRONG ?

THANKS IN ADVANCE

how to make an entry in tally erp for a security deposit received(for room) which is refundable once agreement expires, & under wht head deposit should be entered

Also how to enter the rent received

Dear experts,
Suppose if an individual having a sole proprietorship business is also a working partner in a firm then is it compulsory that every drawing made in the firm has to be shown under individual business as investment
please advise me it is very urgent
Thanks in advance

Respected All,

How to calculate the weighted average number of shares outstanding during the year for calculation of Basic EPS in the case of a new company incorporated on 01.06.2010. There may be three options if no of shares are 10,000:
1. From the date of incorpoartion of the company.(10000*10/12)
2. From the date of allotment of shares by the company as mentioned in share certificate.
3.From the date of receipt of share subscription money.

Please reply at your earliest.

Regards

What will be the Journal Entry for Personal Fixed Asset brought into Business? Whether to pass a Journal Voucher entry?
Please reply. Its urgent.

Thank You

Hi Friends/experts,
1)In valuation of goodwill,why proposed dividend is not considered as liability?
2)In calcaulation of cpital employed why we will not considered long term borrowed funds?
Pls explian the above queries with logic

Dear Experts,
ours is a partnership firm having 4 partners and one of the partner has sole proprietorship business also what is my doubt is can the firm directly deposit cash in to the sole proprietorship partner account ifso what is the accounting entry for the same
It's very urgent sir
Thanks in advance

Hello Sir,

Please guide me how to caluculate Share Holder'd Equity?

Hi to every one

I have a query regarding Secured loans from Banks (financial institutions ) is showing debit balance in Trial balance ??? what does it mean whether they are receivable by the company or what??

PlZ clarify as soon as possible

if i am wrong please correct me

thanks in advance

Harish