Respected All,

In the F.Y. 08-09, a company wrongly treated deffered tax asset as a deffered tax liability in accounts.

How will the company rectify this mistake in the Balance sheet of 09-10.

Please explain the disclosures to be made in the Balance sheet and entries to be made in accounts.

Regards
Jyoti

if i sale car on loss than what will effect on p& l and how to apply depreciation on asset.
Exp. Car Opening Balance 185000 and I sale at Rs75000 .
Problem
1. loss on car would be charged from P&L.(Y/N)
2. Depreciation Charge on loss of asset or opening balance of asset.

Pls Suggest me.

PROFIT FOR YEAR 2008-09 RS 10000 TRANSFERED TO RESERVES AND SURPLUS A/C.NOW IN 2009-10 IT IS SHOWING OPENING BALANCE .WILL IT CONTINUE AND THIS YEAR PROFIT WILL BE ADDED TO IT ? HOW THIS OPENING BALANCE IN RESEVES AND SURPLUS OF PROFIT IS ADJUSTED IN PVT LTD COMPANY.PLZ EXPLAIN.

A COMPANY HAS GIVEN AN ORDER TO MAKE AND FIT WOOD WINDOWS IN ITS OFFICE PREMISES.ORDER AMOUNT RS. 10000 WILL BE CAPITALISED?OTHER SMALL EXPENSES BY COMPANY TO COMPLETE WINDOWS(TO PURCHASE ITS MATERIAL) IN DIFFERENT AMOUNT ON DIFFERENT DAYS (OF AROUND RS 1000 ) WILL ALSO BE CAPITALISED ?
OTHER SMALL AMOUNTS WILL BE GIVEN 100% DEPRECIATION OR WILL BE ADDED TO RS 10000 AND WILL BE GIVEN DEP. AS SAME AS TO RS 10000?

Please pardon my English and accounting knowledge:

I have two Types of indirect expenses, related to current year, but that will only due next year (not Bad Debts & Discounts, and first one repeats every year and second one only once and no more).

I can’t calculate the exact amount of these expenses right now.

Do I have to make any provision/out standing a/c in current year to meet these expenses? Then how I assume the volume of provision?

What are the entries to be made in current year and next year of account books up to the payment of these expenses? After the payment, if any excess/short in provision a/c, what will be the entries to clear it?

your ealry reply will highly be appreciated

Thanks

Please anybody can send soft/model copy of Project report for Pharma industry,,,,,,,urgent(excel wid automatic updates via input sheet) and what r the rules we should follow for preparing project report i.e.sales/increase/expense increase/capital budgetting etc....
my mail id z eashwar.vg@gmail.com


Thanks N Regards

pl. advise me about the nature of expenses, with details, which may be incurred by a person engaged in the profession of modelling and under which heads of expenses these can be presented in the profit and loss account.

Dear Experts
I am working is a firm we import goods for trading and some times we use depb for custom duty paid. we purchase depb and passed
these journal entry
Purchase a/c dr
vat a/c dr
to creditors a/c

and we do nat pass any entry that show we use DEPB for paid custom duty

please tell me the journal entry in these situations

1 when we purchase DEPB licence
2 when we paid custom duty

please reply

PLS SUGGEST ME THE BEST WAY TO SOLVE THE ACCOUNTING PROBLEMS. SO THAT I COULD NOT FORGET ANY POINT OR ADJUSTMENT

PLEASE HELP ME FOR GETTING IPCC CLEAR.

We made an export sale on 31st march 2010 but it lost by fire in ICD GODOWN on 10th april 2010. Now the question is that do we book it as loss in the financial year 200-2010. How we actually treat it in our books of accounts.