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

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Hi All,

What are the accounting entries for Minority interest in consolidation of accounts in parent company.

What are the amount that should appear in Minority interest P&L and Balance sheet.

Please provide explanation with example.

It is most urgent.

Thanks & Regards
Ashish

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I had purchased asset from canada..........my query is when should i record that asset in my books of accounts.....means on which date it should be recorded

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please help..........

give reference for case law,if any,

1)For making employers contribution to ESI to its employees what are the components of wages to be considered ?
2)If the employees wages exceeds Rs.10000 per month then the company need not pay ESI @ 4.5% of the wages to such employees?
Experts guidance will be highly appreciated!!

suppose a company pay dividend Rs,10000/-, and company received the dividend from its investment if all books of account are in tally9 then kindly tell me all entry posting, also tell me the ledger head of dividend paid in tally9

Hi,

we used to consolidate our accounts with US figures at every quarter ended seperatly.. For six months ended we have consolidated the Indian values which we have got for last quarter end{Q1(INR)+ Q2(INR)} like same for nine months ended first quarter(INR)+second quarter(INR)+third quarter(INR) like same for year ended Q1+Q2+Q3+Q4.

Here, probelm is that when we are cacluating the final US fingures with exchage rate the amount is differing with our calculation.

For Example:
Q1 Turnover is 2000USD
Exchange Rate is Rs49.50
Total Amount Rs.99000
Q2 Turnover is 1500USD
Exchange Rate is Rs46.20
Total Amount Rs.69300
Six months Ended we took the value at Rs.168300
Q3 Turnover is 2200USD
Exchange Rate is Rs48.12
Total Amount Rs.105864
Nine months Ended we took the value at Rs.274164
Q4 Trunover is 1600USD
Exchange Rate is 43.12
Total Amount Rs. 68992
Year Ended(Twelve months Ended) we have taken the value at Rs.343156
Bt here while consolidating US turnove figures for whole yr is 7300USD when we take for final exchange rate is Rs43.12 the amount is Rs.314776
in our books we have consolidated Rs.343156
with indian accounts.

Pleae help me out which figure we should take. and the procedure we should follow....

When any Fixed asset is sold then how to calculat gain/loss as per Comapanies Act? And what is the accounting treatment as per Companies Act?

If there is gain then it is required to transefer to Profit and Loss A/c or Capital Reserve?

Thankyou.