Hi,
I would like to know the procedure of accounting for a construction company. How to book the expenses spent on a particular project when the revenue has not been recognised yet? and what entries to be passed after the revenue recognition?

If any one can provide with the Balance Sheet & Profit & Loss format for a construction company, shall be gratefull.

Thanks

In solving Question of AS-21 cosolidation, we do Net worth Analysis. Can anybody tell me why we Bifurcate the Networth into Capital and Revenue?

Hi Sir,

A Pvt. Ltd. co is paying hire charges for dsektop computer(rental charges) monthly for 25 computers around Rs. 21875/-. in the bill bottom it is mentioned in bracket that (not for sale, returnable basis only). what is accounting treatment for it. should we treat it as expenses or capitalised it. Pls mail me your valuable sugession foe the proper head in moinkhan685@gmail.com

Thanks and Reagards

MOIN
9035197685

X Ltd engages in letting out business,
It raises invoices for every month bill?
Water charges for the customer borne by Company and the same is reimbursed from Client
My question is as followes?
Should I debit water chagers in P & L account & credit the amount reimbursed from customer?
Or
not showing the above in P & L account , by giving debit note and adjust through their Account ?
Pls Kindly advice me on the above ?

service tax on rent(rent paid to a transporter agency for broughting raw material where production occure)...
this service tax on rent is a indirect exp. or direct exp. according to accounting point view.....?

WHAT IS THE ACCOUNTING TREATMENT OF STAFF CLAIMS IN INDIA

Answer true or false if false state the reason

1. Contingent liabilities are repayable with a year
2. The sale proceeds on sale of old asset is shown in income and Expenditure Account
3. Under single entry system, both the credit and debit aspects of all transaction are recorded.

1. When a bill of exchange is discharged ,the acceptor debits :

 Creditor’s Account
 Cash Account
 Bills Payable Account
 Debtor’s Account

2. A debit balance in a personal account represents______________

 Liability
 Asset
 Cash at Bank
 Creditors

3. Under consequential loss insurance, in order to find out the loss of profit, the gross profit ration is applied on the _____________ caused by fire during he indemnity period or the dislocation period.

 Profit on Turnover
 Selling Price
 Loss of Turnover
 Purchase price

Hi All,

Query Ist
Companies Act says or suggests to depreciate 95% of assets???

I mean can i depreciate 100%??? or is it mandatory to stop at 95 %.

2nd

Further Can a item like mouse be capitalized with say amount 200 and Depr. with rate 100%( assume not taken along with PC) or i have to show it as repair and maintainence??

same way a pen drive worth Rs 1500 should be capitalized???