Hi Friends

Suppose I have some Long Term Investment in the books and the market value of the Investment have become NIL as on the last day of the Balance Sheet and also no amount is recoverable from the Investment in the upcoming future.

What will be the accounting treatment of the same in Double Entry System.

Thanking you in anticipation.

Regards
Shyam

How to book interest on income tax in the books of accounts

Can security premium be used for amount to be transferred to the Capital Redemption Reserve?

Dear sir,

please share your an idea on the following issues.

If we will make the cost plus company.

what are the advantages(Eg: tax & cost, Asset)& disadvantages.

presently we are running the mobile software company.


Regards,
Naveen

Materials sent for Processing = Rs. 689989/-
Job work charges for processing materials =Rs.200310/-
VAT Charged on materials sent for processing & job work charges =Rs.35612/-.


Total Amount of Bill = Rs. 925911/-

On Which of following amount will TDS deducted :-

1) Total Amount of Bill = Rs. 925911/.
2) Job Work Charges of Rs. 200310/-


Thanks & Regards

Dear All,

X company buys tailored made material at Rs. 100 per kg. But once the material is accepted by the company and if it wishes to sell the material immediately still company will have to sell the material at scrap rate i.e. half of the cost price. In this scenario, how the company should value its raw material in stock?

My query is we have a pvt. ltd. company
at the end on 31.03.2010, we have occurred loss at the above period. but actually we have paid donation amount of rs. 51000/- that's why create loss. in short, before donation net profit of rs.37572/-. and after a donation loss of rs. 13428/- and also this donation does not deduction in income tax also.
what treatment i should provide in the books of accounts for deferred tax purpose ?

isn't it true that deferred tax provision only reported in audit report not in the books of accounts ?

M/s. ABC prepared a invoice in favour of Foreign buyer on 27th March 2010. goods were transported to port for the delivery. The goods were shipped on 2nd April 2010 and Bill of lading was prepared on 2nd April 2010. What would be the effective date of sale?

hello friends,
for purchase of consumable items following entry is passed by a ltd company.

consumables a/c--------dr
vat a/c----------------dr
To Party A/c

my query is since vat credit is not allowed on consumables items is this treatment correct??

please clarify
thanx in advance
my id abhipcc@rediffmail.com

At the time of retirement can goodwill be raised by debiting Goodwill a/c and crediting Partners capital a/c in any case.