WE ARE WHOLSELLERS THRERE ARE ABOYT 1000 CUSTOMERES .WE GENERALLY MAKE SALES ON CASH BASIS BUT SOME CUSTOMER DID NOT GIVE CASH IN THIS CASH WE KEEP A GENERAL DEBTORES ACCOUNT IN WHICH TOTAL OUSTANDING IS SHOWN AND WHENEVER WE RECIVE MONEY WE REDUCE FROM GENERAL DEBTORES ACCOUNT ONLY AT ATH END OF YEAR WE PREPARE OUSATNDING LIST IS THIS METHOD IS OK AS PER INCOME TAX AND M VAT ?

how much time will it take to prepare for accounts without classes

Sir

Book Profit 6915/- of the partnership firm for the financial year 2009-10
Please guide me how much remuneration to partner eligible and how much amount to be transfer to partners capital account and how much to be shown in profit and loss account of partnership firm for financial year 2009-10

Akbar

sir
what is the journal entry for Closing Stock. We are using inventory on manually and accounts are keeping Tally. so how to enter the Tally for losing stock journal entry.

Co A having Assets worth Rs. 100 Cr; share capital Rs. 1 Cr & Loan liability Rs. 99 Cr.

Co B acquired all the shares of Co A.

Now they have shown the Investment of Rs. 1 Cr in their balance sheet.

My question is that....
Can Co B create any asset & Reserve in their balance sheet in asset side & liability side respectively, against the loan liability of Rs. 99 Cr of subsidiary company???

If yes, confirm with support...

Thanks

Hello Experts
Happy Diwali
I have one entry for sale of car in the private ltd co. I have done the entry in this manner. Kindly advise if it is right or wrong.

Car A/c Dr 250000/-
Sale of Car A/c Cr 250000/-
Being amt of sale proceeds.
Sale of Car A/c Dr 51530/-
Profit on Sale of Car Cr 51530/-
Being amt of profit on sale.
the value of car is for Rs.198470/- as per books of accounts as at 1/4/10.
Kindly advise. It is urgent.
thanks and regards
sanjay

Dear Sir/Madam

May i know what is the govt. law procedure of bonus for any employee either it's salary 5000 or more than 10,000 or 12,000 thousand

kindly reply

Thanks & regards
Amit Sharma

Dear Experts ,
Please suggest about Repo & Reverse Repo Rates, Basic Idea on the following with example.

Is there any change in AS 11 which is applicable for Nov,10 exam?

The difference in Forex is transferred to a account called Foreign Exchange Fluctuation Account, but i think the nomenclature of this account is amended or changed,so pls if anyone know pls let me know the real changes which are applicable for this exam
its urgent, exam is going to start on Tues
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in tally erp 9 how can see the particular bill amount settle against which payment