Sir,
An old fixed asset whose WDV was equal to 5% of original value (no depreciation can be charged further) has been sold for profit and now returned back (rejected by buyer). what should be the treatment??

whether I increase original cost and accumulated depreciation or simply treat this return as new addition???

Also if I treat it as new addition, can I charge depreciation on it as it is new addition????

Ram of Mumbai sends out certain goods at cost plus 25%. Invoice value of goods sends out Rs.20,000. 4/5th of the goods were sold by consignee at Rs. 17,600. Commission 2% upto invoice value and 10% on any Surplus above invoice value commission amount will be

Ans: Rs.480

Please tell how to Calculate?

Dear Sir/Madam

The following error do not affect the trial balance

(a) Error of partial omission
(b) Error of Principal
(c) Error of complete omission
(d) All of the above

Please tell what is the answer and please explain?

Dear Sir/Madam

Opening debtors- Rs.50,000
Total Sales- Rs. 50,000
Cash received from debtors- Rs.30,000
Cash Sales- Rs.15,000
Sales Return- Rs.3,000
Bad Debts- Rs.7,000
Bills received from customers- Rs.15,000
Debtors at the end will be

(a) Rs.1,40,000 (b) Rs.1,30,000
(c) Rs.1,20,000 (d) Rs.1,50,000

What is the answer and how to calculate?

Dear Sir/Madam

R%ajesh of Ramnagar sends out goods costing Rs.2,00,000 to Gopal of Gujarat 3/5th of the goods were sold by consignee for Rs. 1,50,000. Commission 2% on sales plus 10% of gross sales less all commission exceeds cost price. The amount of commission will be

Ans: Rs.5,454.54

Please tell how to calculate?

Dear Sir/Madam

Debit balance as per cash book of Shyam enterprise as on 31.3.2006 is Rs.1,500. Cheques deposited but not cleared amount Rs.100 and Cheque issued but not presented of Rs.150. The bank allowed interest amounting Rs.50 and collected dividend Rs.50 on behalf of ABC enterprises. Balance as per pass book should be

Ans: Rs.1,650

Please tell how to calculate?

How can we treat the following situation, how it appears in accounts and what is the effect in the quantity and value of stock?

Sample raw material received from a party outside india through courier and all the expenses relating to it are met by the party who send the material.

Can any one provide details about IAS of various corresponding AS.
Foe Eg. AS-3 is cash flow statement and IAS -7 belongs to cash flow statement.

And is india is going to change from Accounting Standard to International accounting Standard?

TOP URGENT

Dear Team,

While calculating the net worth, whether we need to deduct the outside liabilities & unsecure loans from the assets?

Please anyone provide us with the Travel Agent/Tour Operator companies Annual Report???