Hi Experts,
X ltd comapny brought an asset on lease basis for 10 years(subtantial period) and hence given treatment according to AS-19 as finance lease.However after the end of 1st year X ltd thought that asset is useful for one more year then in such case what should be the treatment in the 2nd year?what abt the treatment given in 1st year

pls guide me

Hi Experts,
In case of investement which accounting standard should be folllowed either AS-13 or 30?

Hi,

Gross block Rs. 150,000
Acc Depreciation Rs. 90,000
Net block Rs. 60,000

The asset is revalued to Rs. 125,000.

Can some one please help with the accounting entries for Revaluation reserve and accumulated depreciation effect.

A guidance on AS disclosure requirements would also be helpful.

Thanks

Kindly suggest me how to prapare non trading account mis reports, and formats of control on accounting.

Thanks...
Arokiyaraj

i have a bill of machinary purchasing

details below


party name :- dutta garment machine

sub total ;- 68500/-
cst 2% :- 1370/-
freight & cartage :- 2500/-

total :- 72370/-

than what will be entry in books......
i will pass it j.v........
than i wan to know can i get tax benifit in sale tax ret. ???????????

plz guide me bcz i m confused in this entry bcz discussion is more


& same party in other bill as below

sub total 601000
vat 5% 30050
cess 1502
freight 1500
grand total 634052

than wat will be entry ?????????

What is the journal entries for service tax bill amount and receipt amount as per service tax ?

Dear sir,
Purchase & Provision account is what kind of account type, is it Nominal, Real A/c, or Personal a/c & why?
Please explain with example.
Thanks in Advance.

A company receive a govt. grant of Rs 1.00 crore.In this Rs 70.00 lacs for capital expenditure and Rs 30.00 lacs for revenue expenditure.what is the treatment in books of accounts of company?

In Working Capital Estimation.. While valuing Closing stock of Finished Goods. We take the ADMINSTRATION EXPENSES as a part of Cost of Production or Not plz. Reply....... I would be Thankful to u....

Kindly give us your best opinion

We are gone with bottling agreement with XC Company we bottle the liquor for the e.g. X company, at stiupated amount per case. Some raw material purchase by us on our accounts some by M/s X. The sales bill raised by us and fund received by us.

Kindly inform us the accounting treatment for whole transaction.

Since we are manufactuirng for another company wheter service tax liability arises.

Kindly inform treatment on material supplied by M/s X.
Pl inform the following:-

Vat credit is used by us since purchase made by us.
Whether the sale is our sale of M/s X since we are raising the Invoice. but parties and the rate decided by M/s X. and as per agreement the sales is their.

What treatment is given for the transaction for material supplied by M/s X.

We only concern the bottleing charges with is received by us.

At present we are treated the sales as our sales and purchase as our purchase wheter it is correct if wrong please suggest remedies.




Thanking you

Govind Parik