Dear Experts,

We seek your expert opinion on the following situation.

We had capitalised machinary around twelve years back for 45,00,000/- We have depreciated this machinary on wdv basis. We have wdv on sale date 2,71,210/- for whole machine. We sold part of the machine in current year for 1,15,000/-

Now to give effect of profit or loss on sold part we need gross value of the particualr part. Pls tell us how to derive the gross value of the machine part which we have sold.

Thanks & Regards,

for transferring expense and income account balances to profit and loss we need to pass a closing entry.
Is that entry mandatory to be passed in the books?

can income and expense ledger show flowing transaction accross the years even if we are taking opening trial balance without p&L figures.

Hi, good morning to all!

I'm working as internal auditor of a concern functioning in KANDLA sez. Accountant has shown an expenditure on buying gifts for Deputy D.C. who visited their office on certain dated but for office purpose.

What the accountant has done that he has booked the above expense under the head STAFF WELFARE.

Can we do so? what are other wise option to an accountant in various circumstances?

Thanks.

Dear Sir,

We have issued invoice for Eur. 5049, Custom department issued Shipping bill FOR Euro 5094.00

Kindly tell us which amount should we booked into account? for which amount buyer should be debited?

Shall we revise invoice if we do so even our previous invoice already with the custom department?

Kindly let un know proper settlement of the situation.

Looking forward to earliest help.

Thanks & regards
Jitendra

What is the accounting entry for issue of sweat equity shares to directors for consideration other than cash?

please let me no how to make entry for letter of credit transactions in the books

Dear Friends / Experts,

Please let me know the way to overcome the rounding off amounts especially for service tax 10.3%.

This is my situation.

12500 Fees amount
1287.50 Service tax 10.3%
0.50 ?????

Please advise suitably.


Thanks.
DK.

Debentures in books of holdin co.
(75000 of100 each ). - 75 lakhs

Subsidiary holds 45000 debentures standing in its books at 42 lakhs

How to consolidate and what will be effect of the same while analysing for capital and revenue?will3 lakh be considered as profit and added to revenue side of p&l a/c while analysing the capital and revenue chart if yes then why ?

dear friend / sir / madam.

i simply come to point...
ie
some transaction are given bellow ....

05/12/2010 : rahul collect salary advance
250.00 dhs
15/12/2010 : sameer collect salary advance
500.00 dhs
( here rahul salary 2500.00 dhs/ month )
( sameer salary 2500.00 dhs / month)

the co,does not pay salary at end of the month,ie 31/12/2010 and they will paid 15/01/2011.
here how many entries need in tally ...
and which amount will come salay payable ..
and which amount will come as salary
pls provide brief information as early as possible ,,,,
and mail me umer.binhassan@gmail.com

Dear all

Kindly let me know
How to account following transactions in Books of Accounts & Trading account

1)Intra day Transaction of 600 shares Purchase at Rs. 100 & sales at Rs. 105
2) Short sale of 500 shares at Rs.100 & buy back at Rs.105 ( loss booked)
3)F&O Purchase of 1000 shares at Rs.50

I will be thank full if you solve my problem

Thanking you
With regards