What is the diference between cost of goods sod and sales?

Dear sirs,
On which date a purchase bill is to be accounted? Whether on Invoice date or GRN date?
Will the property in goods transfer to the buyer just after the billing of goods or at when the goods reach the buyer's place?

Thank you....

There is a change in method of Depreciation i.e. from Income Tax Act to Companies Act, which may result some deviation either deficiency or surplus.
I want to know that what will be the treatment in P/L Acoount.
Please confirm me whether the depreciation adjustment will be above the line or below the line.

Hi
Respected Memeber

Can Any one tell me that my freind got the one of client who is engaged in construction of commercial and residential complex.

So how they make entry i.e on the basis on AS-7 or Contract costing as chapter in costing. OR any other mode?

and whether disclosed as receipt or sales in direct income?

Dear all

please tell me the entry for the salary ,EPF, ESIC.

dinesh

WHAT IS THE CURRENT RATE OF DEPRECIATION ON AIR CONDITION AS PER COMPANIES ACT AND AS PER IT ACT?

pls explain what is the limit of amount to be debited under the head misc exp as per schedule 6

Thanks Sanjay,

But Personel ac- dr-receiver and cr-giver
Real a/c-- dr-what comes in and cr- what goes out
Drawings means something is taken away by the prpritor.. so Drawings should be the real ac ...

Please clarify..

Regards

Hello All,

Drawings will come exactly in which a/c..
I.e Personel or real account

Regards

ONE OF OUR CLIENTS CAPITAL IN PARTNERSHI FIRM(CL. BAL ON 31/03/10) IS 240000/-

INVESTMENT IN HIS PERSONAL BAL. SHEET IS ALSO 240000/-.

HE WANTS TO CLOSE THE PARTNERSHIP FIRM THEN WHAT WILL BE ENTRY IN THE BOA OF THE PARTNER.

URGENTLY WAITING FOR REPLY.