Q.Conider the following for Q co. for the year 2005-2006
Cosg Rs.100000
Total sales Rs.80000
Op. Stock Rs.20000
Gross Profit 25%.
Closing stockfor the year2005-2006 ?

Ans Rs.40000

How to find closing stock


Girish

Fixed Deposits Accrued Interest is covered under Current Assets or under Loans & Advances in Balance Sheet.

Pls give me advice on folowing from incometax point of view for my Employer





My employer is in Construction line & selling plots to customers



In F.Y 2007-2008 he has sold 2 plots and reced entire consideration. He has booked tis amount as sale in FY 07-08



But not a single agreement was executed between seller & buyer



Now this plot holder wants our company to sell out this plot to any available customer for which our company is ready



Pls guide me on how this transaction can be booked in Books of Accounts & what is the implication from income tax point of view



pls advice



Mahesh Godse

Can Sale of material to sub-contractor be disclosed as Sale of material or should it be adjusted against consumption of raw materials in the regular course of business?

sale value 50000, book value 30000. sale consideration to be received 20000 in 1st year , 15000 in 2nd year, 15000 in 3rd year. what is the profit to be considered in current year. Please let me know the clear conceptual understanding on this.

Some please tell me what is “JAMAKHARCHI” and what are the process, one more thing why do company receive the cheque and paid it through cash to JAMAKHARCHI Co. what are the motive to do so.

I am working in a small firm and
I am going to take up Accounts in-charge in a private Manufacturing 100% EOU shortly where there does not seem to be a proper accountant so far. What are the things that I have to know and be sure of before taking up entire accounts dept.

sir please tell me the rate of sub contractor and contractor.as par my knowledge it is 1% for sub contractor and 2% for contractor. is it correct if wrong please sir clear my doubt

SIR PLEASE TELL ME MEANS OF ONTRACTOR AND SUB CONTRACTOR. THE RATE OF ONTRACTOR AND SUB CONTRACTOR IS 2% AND 1%. SIR IT IS CORRECT IF WRONG PLEASE SIR CLEAR MY DOUBT.

I am preparing balance sheet, as per our books of accounts Bank balance is 230000/- and as per statement 235000/- , I have issue 5000/- cheque for dmate fees on 31/03/2010 this the difference between books & bank, my query is which amount will treated as bank balance, kindly describe in brief