HI,
HOW CAN I PASS JOURNAL ENTRY FOR GOODS IN TRANSIT,
KINDLY SUGGEST ME. ON FOLLOWING POINTS
# WILL THE GOODS IN TRANSIT ADD IN PURCHASE AND TAKE INTO CLOSING STOCKS
# OR IT HAS TO SHOW ONLY IN STOCK & CR. PARTY'S AT THE END OF THE YEAR.

IN FIRST CONDITON.

# AT THE END OF THE YEAR
PURCHASE A\C DR.

TO GOODS IN TRANSIT.( CURRENT LIABILITY)

# NEXT YER

GOODS IN TRANSIT DR.

TO PARTY'S ( WHEN GOODS RECEIVED)

# IN SECOND CONDITONS

# AT THE END OF THE YEAR

GOODS IN TRANSIT DR. ( CURRENT ASSETS)
TO PARTY'

NEXT YEAR

PURCHASE DR.
TO GOODS IN TRANSIT.


KINDLY PROVIDE UR ADVICE.


THANKS

Dear Experts,
In a private limited company, they are purchasing packing materials which are used for delivering the goods when it is sold.
1)In such a case can those packing materials purchased be classified as Purchases and classified as Direct Expenses in the Tally?
2)Can i classify them as Selling & Distribution Expenses?
Thanks for the reply...
With regards,
Rajesh.

An asset(temporary erections) for which depreciation has been claimed @100% during the last year.Whether it has to be shown in the gross block for the current year.where company is following Accumulated depreciation model

sir,
can i have the examples of personal,real &nominal accounts how the entries differentiated. entry for cheque dishourned

please hel me

I am giving my ca final exam in this november.And i want to know whether in accounts paper questions related ifrs could be asked or not i.e i want to know whether ifrs need to be studied for this november exam and what to study in ifrs.
Please reply urgently.

Dear Experts,
Very Urgent Sir!! Thanks for everyone who replies!!!
I am going to audit a new private limited company which is just started.
I have the following doubts in that please provide me the answers.
1) Please provide me the format of Schedule VI of the Companies Act.
2) What are all the applicable standards for it.( It is neither a holding company nor a subsidiary one) Specially whether AS-3 (Cash Flow Statement applies for it)
3) Since this is the first year there might be loss for the year, so should i have to provide Deferred Tax Asset.
4) Is there minimum amount of share capital which the company has to register itself as private limited company?
5) Please provide me the section which deals with prelimnary expenses write off as per Companies Act.
With regards,
Rajesh.

Dear Experts,
How to calculate the Networth of a company?
And how to calculate cash loss of a company?

its urgent.

Thnx in advance.

Dear Experts,
If any Pvt Ltd Co takes an building on perpetual lease, then
1) how to calculate deprecitaion on the same?
2) How to disclose the same in balance sheet?
3) How to disclose the same in the auditors report?

An early reply to the above query is highly appreciable.

Thnx in advance.

Dear Sir,

Monthly colosing and preparing balance sheet is possible? if yes, what should be consider in it?

Regards,
Mohammed

My question is in relation to NPV method of capital budgeting. Suppose Retrenchment compensation of Rs100000 is paid in the year of installation of machine. This compensation is deductible for tax. Assuming tax rate as 30%. Why tax saving of Rs30000 is provided next year of its payment in calculation of total PV of cash outflow??

Kindly reply with clear logic...