Illustration 1
Mr. X set up a new factory in the backward area and purchased plant for Rs. 500 lakhs for the
purpose. Purchases were entitled for the CENVAT credit of Rs. 10 lakhs and also Government
agreed to extend the 25% subsidy for backward area development. Determine the depreciable
value for the asset.
Solution
Particulars Rs.(in lakhs)
Cost of the plant 500
Less: CENVAT 10
490
Less: Subsidy 98
Depreciable Value 392

What should be the entry for following cases-
1.Credit note issued to customer
2.Provision for credit note

Please reply.

sir,
in amalgamation, i had seen in various places P/L a/c is debited and credited(when difference between asset and liabilities taken over, amount paid to such helpers etc.) is it correct. i have studied that P/L a/c only contains nominal account. pls give me an answer

The company sold some old machine for 1 crore.The details of the cost of the machinery are not available since the entire recording relating to fixed assets has been destroyed in earthquake.

hey I wanna know that if I clear my ICWAI after passing through foundation and intermediate stage then is it mean that I hv clear my graduation too??
or Can I apply for the professional courses like MBA?

I WANT TO KNOW WHAT IS STATUTORY RESERVES & PLEASE GIVE EXAMPES OF THAT.

ALSO TELL WHAT HAPPENS TO THESE IN B/S.
THNX IN ADVANCE.

Respected members,
Is there any specfic printer for printing cheque in tally or all printers may used ?

I can apply for ICWAI course directly after 12th, but I wanna do first my B.com(H) along with foundation course and then wanna go for ICWAI intermediate. Is there any advantage of doing so?
I know I can apply for intermediate after foundation. But I m doing B.com(H) along with ICWAI foundation just to be more efficient.
Is there any advantage in future in my prospectus or just waste of time??

I can apply for ICWA course directly after 12th, but I wanna do first my B.com(H) and then wanna go for ICWA is there any advantage of doing so?

Hi,
I want the detailed information of Financial statement of small builder/developer who is a Construction related private limited company.
This company is not listed or subsidiary of any listed company.
I tried in google search but not found any information.
Is there any way to find out financial statement from income tax or ROC
or any other way.
I am not connected with anyway with this company.
Pls help me....