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

Dear Experts,
1. Please provide me the journal entry for loss incurred on Goods damaged while in Godown in
a) Financial books
b) Inventory books

With regards,
Rajesh

Experts please clarify me on capital employed computation.
There are 2 ways of Capital Employed computation.
One through liabilities side Share holders Fund + Long Term liabilities (i.e. Debentures, Secured Loan etc.)

Second one being Assets side Fixed Assets + Working Capital

Please let me know any other item such as (P&L - Debit balance) has to be deducted while computing both the methods.
Is there any other item which has to be considered for computing capital employed.
Thank you,
With regards,
Rajesh

My co has a foreignor as MD. When he travels to different parts of india for business matters he uses his international credit card for payment for hotel accomodation etc. But he faces the problem of exchange fluctuation and everytime loses money. Can this be reimbursed by the company???? If yes how???

1.In case of a listed company how we have to account the purchase of assets in Hire Purchase System? Please provide me the journal entry too.

2. How to go about Depreciation in case of Hire purchased Assets.

3. Should we have to created any Charge in the Register of Companies?

With regards,
Rajesh.

Should we have to disclose liability of term loan repayable within one year as
Current Liability?
With regards,
Rajesh

Sorry Experts, I shall put my question more clearly.
The Term loan is repayable in 10 years amounting Rs 250 lakhs.

In year 1 the principal repayment amounts 25 lakhs

Now whether we have to show in the balance sheet Rs.25 lakhs in current liabilities and the balance Rs.225 lalkhs as term loans. Else we have to show Rs. 250 lakhs as term loan in the balance sheet

Thank u sir Mr. Rasesh and the other expert.
With regards,
Rajesh