Respected Sirs,

we have created a provision for teliphone exp of Rs 1000/- on dated 31 March 2010.
Now My two question is :-

What wil be journal entries in the month of 10th April 2010 .
1) If we received teliphone bill Of Rs 1500/-
2) If we received teliphone bill of Rs 800/-

Kindly explain in detail.

with regards,

sir,a manufacturing company has head office at one place and it has different plants situated in different locations , where related accounts and HR departments are also there to carryon the operation there smoothly.

Sir , my question is whether the administration coct like salary paid to accounts and Hr personnel should be added with the cost for the purpose of 'valuation of inventory , as per AS 2".
Not : the client has contention that it is a part of direct cost , and had the plant been not there , it could have been avoided.


Pl. guide me with suitable supportings.

With Regards
Surya Kumar Pani

what is calculation of tds on running bill

example-suppose a bill from party in f.y a 1 st-18000, 2nd -25000, 3 rd-50000, 4th-65000, total consist in f.y=158000/-

tds limit of contractor is rs=50000/-
so what is the calulation of TDS?

2 co. are there i.e. A Ltd., B ltd (Sister co.)

Raised invoice by B Ltd. and payment recived against invoice ( party) to A Ltd. what will be entry in tally and also service tax of that perticular inovoice how to pass entry in tally?

SG

what are the repercussions for having a negative working capital in balance sheet in a particular year.

A company has commenced its production activities this year. The company during the previous year disclosed all its fixed assets (plant & machinery, building etc) under capital work in progress and other expenses incurred for the project under the head pre-operative expense which separately shown in the previous year balance sheet. This year all the assets were ready to use and has been capitalised. The pre-operative expenses were allocated on pro-rata basis. Last year, in notes to accounts, it was separately disclosed that pre-operative expenses are shown separately as it has to be capitalised on commencement of busines operations. How should i disclose in notes to accounts that i have capitalised the pre-operative expenses on pro-rata basis. Is there any restriction on capitalisation of pre-operative expense on pro-rata basis as per Guidance note.

AS-17 Segment Reporting is applicable on all listed enterprises OR
It is applicable on any enterprise whose turnover exceeds Rs.50 crores...

Plzz rply....

WHAT ENTRY SHOULD BE PASSED FOR SET OFF INPUT/OUTPUT TAX PAYABLE,AND WHEN ACTUAL PAYMENT IS MADE THEN WHAT ENTRY SHOULD BE PASSED?

if an employee is given a car by the company which has been bought in the name of the employee but the EMI for the same is paid by the company then can the car be treated as a company asset.
Pl advise how this transaction should be accounted in the company books and the income tax implication for the individual and company

a limited company received a bill for 2500000 in the month of august 09 in respect of contract expense relating to may09 but the company recognise the bill in the month of december 09 and deduct tds .the contention of the co. is that it has received the bill in december . so it has booked the bill in december and deducted tds. whether the company is right in booking the bill at the time of receiving the same. if the company is right please give reference.