CA Abhishek Singh

my mother's brother died in 2009. as per will my mother was supposed to receive rs.1.25 crores and balance among other relatives. I was appointed to realise the money from the assets and distribute to the relatives.

consequently i transferred all the money which was realised frm the estate into my saving bank account and made payments to the relatives as per their share. in between my mother died and i am the only son so her share was kept in my my account only.

my question:

1.)what entry should be passed for receiving the entire realised amount into my persoanl saving a/c??

2.) what entry should be passed for distribution to the relatives??

3.) how to show my mothers share that i received??


urgently waiting for reply.
thanks in advance
my id abhipcc@rediffmail.com



Anonymous

Crocker puchase for office use under which account expencesout


Hema Raviraj Ghadge
17 July 2010 at 15:11

bank guarantee

What is a procedure for opening a bank gurantee


dipul mehta(swadhin)
17 July 2010 at 11:45

pre operative expenses

A Pvt. Ltd. Co. incurred pre operative expenses of 300000(05 - 06) & this expenses are carry forward on balance sheet as loans & advances for (06 - 07)(07-08)(08- 09)can this is right treatment?


Piyush Newar
17 July 2010 at 11:19

Capitalization

Please advice on the following:

A SAP is being implemented in a unit and for the purpose harwares in form of server n comp[uter is being purchased.

How are the following to be dealt as intangible and fixed asset?

Regards
Piyush


Rajesh

Dear Experts,
On the company which i am auditing they have capitalised the CENVAT and VAT paid for the fixed assets. For the 2nd year while claiming depreciation they have also claimed including the CENVAT and VAT. As per my knowledge CENVAT and VAT should not be capitalised and it has to be reversed.

2nd doubt is Whether VAT paid for capital goods can be used to set-off the VAT payable by the company. For Example VAT liability comes for Rs. 140 and VAT input credit available is Rs.100 and VAT input credit for capital goods is rs. 10. Is it sufficient the company pays Rs.30 for VAT tax.

Pls. clarify me
With regards,
Rajesh


saikrishna.boyina

Hi,

What would be the accounting treatment in the following case ?

If the asset has zero book value but in perfect working condition.

Please also cite the relevant accounting standards that need to be followed.

Thanks,
Sai Krishna


Vijay Parmar
16 July 2010 at 18:52

Provision for Audit fees ?

one ltd company incurred current year loss. hence company does not provided provision for audit fees ???

its correct ???

or compulsory to provide audit fees provision ????



Anonymous
16 July 2010 at 17:27

Controllable vs. Uncontrollable Cost

What is the difference between Controllable And Uncontrollable Cost?



Anonymous
16 July 2010 at 16:05

time sheet

some body tell me that wt is time sheet in accounts.






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