Dear Expert...

How to treat the excess amount received on application at the time of forfeiture of shares

Case:-

Mr. X applied for 150 shares and
Only allotted 100 shares to him.
Face Valve is 10.
Issue Price Rs. 12 per share
On Application Rs. 2
On Allotment 3+2 (Rs. 2 is Securities Premium due at the time of allotment)
Rs. 5 on First and final call.

He doesn't Pay any amount after the application.

Now My Qn. is How we treat Excess of amount of Rs. 100 (Received on application of these shares).
Weather It will be adjust against Capital or securities premium at the time of forfeiture.

With how much securities premium will be debited on Forfeiture.

Plz also suggest the Forfeiture entry with amount.

Thanks

I purchase a new car @ 7,80,000/- i paid 65000/- insurance & Registration.
now what is my Fixed Assets 7,80,000/- or (7,80,000/- + 65000/-)

DEAR ALL,

WE HAVE HIRED A SUB-CONTRACTOR FOR TRANSPORT SERVICE.ALREADY WE HAD PAID HIM RS 18000 WITHOUT TDS DEDUCTION AND NEXT MONTH PAYMENT IS DUE RS 11000 SO PLEASE HELP ME HOW MUCH % TDS SHOULD I DEDUCT AND ON WHICH AMOUNT .

BR
HEMENDRA

DEAR ALL,

I HAVE PURCHASED AN COMPUTER SOFTWER FOR RS 120000.HOW MUCH % SHOULD I CHARGE DEPRECIATION ON THAT .

THANKS & RGDS,
HEMENDRA

Hello all.
I just want to know that if we change the cartridge of printer den that particular expense is recorded under which head?? Is it in printing & stationery or computer & printer exp.????

(Note: If we shows computer & printer in one head only....)

So please help me out to make my mind clear, with proper explanation....here i don't think to write descriptive so please understand and solve my problem.....

Rakesh Chauhan
Mukund Patel & Co. C.A. Anand city

Hi,
is there any guidance note available for accounting in mining company.
in case any other document available, please let me know.

Q-1) what is the journal entry when some amount is paid to contractor while the capital work is in Progress?
is it capital WIP A/c dr to contractor to bank
or is it simply contractor a/c dr to bank?

Q-2) when the work is over then will the equivalent amount of Capital WIP is tranferred to building fund?

Can anyone provide me the list of depreciation rate on Vehicle (CAR) as per companies act from the P.Y.04-05 to P.Y.06-07 ???????

plz rply its urgent............

please suggest accounting entry in tally for fixed deposite Rs 85,000000/- for three year with TDS effect for 1 st ,2nd ,3rd year

Can anyone explain me the meaning of Derivatives in simple language which is understand the concept.