Our client is about to start a limited liability partnership with 2 partners, so can any one guide me how and what all accounts are to be prepared for the same.
if possible kindly mail me the formats with example

Respected Members
What is Capital Work in Progress which is shown in the Application of Funds in Balance Sheet?

Respected Sir,
I wanted to know where does bad debts recovered come in cash flow statement?

can anyone please tell me exact treatment of following situation?
A pvt ltd company purchases mobile phones,laptops etc for use by directors.For mobile phones bills are cash memo bills.should it be capitalized?or transferred to revenue by debiting directors a/c or by debiting entertainment a/c etc?What shud b the treatment?

Dear Sir/Madam

On 1.1.2005, a machine costing Rs.10,000 and a piece of furniture costing Rs.20,000 was purchased. Depreciation is provided @ 5% on furniture and 10% per annum on machine. The depreciation for the year ended 31st March, 2005 should be:
(a) Rs.1,000.
(b) Rs.300
(c) Rs.1,250
(d) None of the three.

ANS: Rs. 1,250

Please tell how to calculate

Dear Sir/Madam

Books of Ekta, shows on 1st January 2006 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2006 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will be
(a) Rs 18,508
(b) Rs 20,440
(c) Rs 18,396
(d) Rs 18,478.

ANS: Rs 18,478

Please tell how to calculate

CAN ANY ONE PLS EXPAIN ME HOW THIS FV IS CALCULATED AND HOW TO CALCULATE 4.046

THIS IS FIRST QUESTION OF JUNE, 09 PCC F M PAPER

PLS

Ram has deposited Rs. 55,650 in a bank, which is paying 15 per cent rate of
interest on a ten-year time deposit. Calculate the amount at the end of ten years?

Calculation of Future Value (FV)
FV = P * CVF10,0.15
FV = 55,650 * CVF10,0.15
(CVF of Re. 1 at 15 percent for 10 years is 4.046)
= 55,650 * 4.046
= Rs. 2,25,159.90.

when calculate of profit u/s 349 of the companies Act.profit from sale of immovable property of fixed assets of capital nature comprised in the undertaking or any of the undertakings of the company,unless the business of the company consists,whether wholly or partially of buying and selling such property or assets are NOT TAKEN WHILE CALCULATE NET PROFIT..and profit on sale of machinery is taken while calculate the profit.so can any one tell me why it is taken coz one side LAW prescribe that it should not be taken and on other hand it is added in NET PROFIT...pls clarify me..

CAN ANY ONE PLS EXPAIN ME HOW THIS FV IS CALCULATED AND HOW TO CALCULATE 4.046

PLS

Ram has deposited Rs. 55,650 in a bank, which is paying 15 per cent rate of
interest on a ten-year time deposit. Calculate the amount at the end of ten years?

Calculation of Future Value (FV)
FV = P  CVF10,0.15
FV = 55,650  CVF10,0.15
(CVF of Re. 1 at 15 percent for 10 years is 4.046)
= 55,650  4.046
= Rs. 2,25,159.90.

In year 1 cost of inv. 10000 NRV Rs 9000
in year one value as per AS2 is rs 9000/-
now in year 2 (no sale) opening value of inventory is Rs 9000/- cost is Rs 10000 but NRV is 9500/-
now in books its value is Rs 9500/- (cost or nrv which ever is less)
but actually how it will be incorporated in books.
plz give your answer as per AS-2 & IAS 2.