HELLO EVERYONE,

DOES CAPITAL EMPLOYED AND NET ASSETS MEAN SAME.

IN FM CAPITAL EMPLOYED=ESC+PSC+R&S+LOAN FUNDS.

BUT IN ONE OF THE A/C'S PROBLEM THE CALCULATION CAPITAL EMPLOYED AS FOLLOWS.
(FA+CA-CREDITORS-DEBENTURES)

I DON'T KNOW WHY THEY DEDUCTED THE DEBENTURS??

PLEASE EXPLAIN???

abhipcc@rediffmail.com

Hi Sir,
In the financial year 2009-10 I had issued a cheque against unsecured loan by mistake while the loan was already cleared in 2008-09. The unsecured loan was of the sister of the capital holder. Now the account of the unsecured loan is showing debit. Now how can this be rectified? Can I show the chq issued as gift to the sister?. If not. then please tell me what is the provision for that?

I was given machinary to contractor but because of flood machinary was destroyed.
Details are given
Machinary cost 1.5cr in my books
contractor pay me 3 cr for new machinary.

How should I account these 3 crs.

Thanks in advance

Hi I am working in a firm, and dealing in the daily sale, purchase billing , sale tax and TDS. I want to know what is the threshold for deducting the tds on advertisement, rent and other sub contractors,.I entered the bill of amount 35000/- of the advertisment in April 2010 but did not deduct the tds. Plz tell me should I deduct the tds on that bill, if yes then what should I do now?

My Client being a Pvt ltd.Co. has purchased /acquired concurrently Plant & machinery (i.e.Furnace) along with Raw Material(i.e.Copper Scrap)from same place & loaded the same in to one truck.

In this regard it has incurred the following expenses as under
(i Transportation/Freight charges
(ii Packing charges
(iii Insurance charges

Now my query is whether these expenses can be capatilised proportinely to the concerned plant & machinery from the accounting point of view or not.

AUTHORISED CAPITAL=4,25,00,000
equity shares: 10,50,000 @ 10 each
preference shares: 3,20,000 @ 100 each

PAID UP CAPITAL=38,683,000
equity shares= 7,28,300 @ 10 each
convertible preference shares=3,14,000 @ 100 each

Now the company pans to convert the preference shares into equity shares at 10 + 90(premium) each. In this case what will be my new paid up equity capital? will it remain same or there will be a reduction of capital?

31/03/2010
part a/c dr 500*(48-45)
*foregn Ex gain /loss (C.L) 500*(48-45)

CA Shivang.

in the above entry i have credited foregn Ex gain /loss (Current .Liability) 500*(48-45)

but as per your suggested entry ie

Bank (40*46) dr
Loss on FOREX (40*2)
To party a/c/ debtor account (40*48)

*Ex gain /loss (Current .Liability) 500*(48-45)
this enry is not set off.

so please suggest

with regards

raaj

I have to give november attempt of ca-pcc. I have to surely pass advanced accounting (group-1). and I have the least knowledge of the subject as I have not taken any coachings for the same. please suggest me a very good book from both point of views understanding as well as clearing the exam

Respected sir,


WE have paid two month Advance salary on dated 03 June 2010. What will be journal entry inthe month of june for advance payment. And what will be journal entry in the month of july and August for salary adjustment

With regards,

please suggest me on correctness of the following trns

date of sale 11/09/09
500 @ 45/$

rate as on 31/03/10 - 48/$

date os receipt of bill 06/06/2010 Rate 46/$
11/09/09
party a/c dr 500*45
to sales 500*45

31/03/2010
part a/c dr 500*(48-45)
foregn Ex gain /loss (CL) 500*(48-45)
06/06/2010
bank a/c dr 500*46
foregn Ex gain /loss (CL)dr 500*(48-45)
to party a/c 500*45+500*(48-45)
to foreign ex gain/loss (PL) (b/f)

with regards

raaj