We received goods from "A co.",but purchase order placed by our mumbai branch also payment made by mumbai branch.what kind of entries and adjustment should be done in our books and which form(C or H)should be given to whom?


From,

Rahul Dutta.
(Accountant in I.G.Mint,Kolkata)

Hi, Experts,
We have a loan of 5 Milloin USD which was sanctioned on 1St April,2008, When the INR/USD rate was 44 Rs. So, it turns out to be 220 Million INR, loan. However the rate of exchange on 1st April,2009 was 48 INR/USD. So, it turns out ot be 240 Million Rs. loan. I would like to ask experts whether the interest rate differential wil be calculated, by comparing the interst of 5 million USD with 220 million INR or by comparing the interest of 5 Million USD with 240 Million INR.

If i have purchased a land taking a loan of 20 lacs. then what are the possible treatments available to me for the interest. Can i capitalise the interest paid on loan after aquisition of land & before repayment of loan. Or i can claim it as a deduction in P&L.. Plz tell.. if 1st option is possible as its preferable..
Thank U

how long can we carry forward the provisions made in the accounts if not utilized during the year

Hi,

I am bit confuse in the accounting concept for partnership interest,
if a company have partnership interest in an firm and firm incurred some loss during the year that what would be the accounting treatment for the partnership firm for loss distribution to company have partnership interest and what accounting to be done in the book of partner company,

Please guys revert ASAP.
Its urgent

My company is readymade garment .How to prepared stock statement and debtors less than 90 days for bank submission and our limit is 50lac.

my e-mail id is: ranjeetkumarroy@gmail.com

Sir,

Please solve this query as it is very urgent need.

1) The original cost of machinery is Rs. 100000/- , its life is 5 years and the expected salvage value is Rs. 2000/-. then depreciation for 3rd year as per straight line method shall be -

Please reply

Regards
Chetan
email id : Chetan_cares4u@yahoo.co.in

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