My query is that, If we discount the post dated cheque with financer for geting cash immediatly then how we record this transaction in the books of account.

My 2nd is that, in which ledger Bank cash credit is shown in tally accounting program if we have deposit,withdraw and payment made by bank Cash credit account and under which catagory this transaction will be record in Tally Accounting package

Please Reply me fast

Which Co. will prepare consolidated accounts in case of cross holding?

Example - A Ltd holds 100% shares of B Ltd. B Ltd also holds 100% shares of A Ltd.

Q- Which Co will prepare Consolidated Accounts A Ltd, B Ltd or Both?

Hi,

I just wanted to confirm that amount paid to other company as share application money for purchasing its shares will be shown under "Investment or loans and advances" heading in assets side.

Allotment is pending

Thanks
saurabh

hello! can any one tell me whether it is required to disclose in notes yo account an disclose conyingent liability for duty paid under protest

Dear sir,
Under what head of account one can book those Expenses made for the travel of workers or employees of a company, to purchase of spares, to service any machine, to pay some fees & taxes etc?

How to account If any external person comes for to give some services like, machinery erection, service or as consultant the traveling expenses, boarding & lodging expenses made for them by the company?

What are all the expenses come under the Traveling expenses A/C?

Please rectify me I am making a balance sheet of a private limited co. where the total Investment is 282250000/-, Loans& Adv. 82170/- Cash & Bank balance 254256/- & total Current liabilities is 2500000, so therefore in my balance sheet Net Current Assets is in negative balance (82170+254256-2500000)= -(2163573) “ but my balance have been tallied,
Is it ok ?

Material purchased from Finland and for freight charges fund remitted separately, would freight charges to be clubbed with material cost or to be shown separately under head transport inward.

Further to this, fund remitted in the month of Jan.10 for purchase of material and material recd. in April'2010 and accordingly paid the custom duty, but bill is dtd.26.02.10, whether it is to be accounted in last year i.e.in 02-10 showing purchase-in-transit or would be accounted in current year.

Please tell me advance to supplier comes in which group

The receipt of income accounted in receipt and payment account should be on acrual basis or on actual receipt basis.
Ex Subricption fee due at the beginning is Rs1500 and received in current year Rs10000 and on end of the year outstanding subsricption is Rs.2500. What shuould be taken to current year Receipt and Payment Account.

Dear Experts,
1.Please explain me about how to deal with Goods in Transit?
2.Whether it has to be included in purchases ( for entity which is to receive the goods)
3.Whether VAT to be accounted? IF so whether we can take input credit?
With regards,
Rajesh