There are 3 companies for ex. A,B&C Ltd in which company X & Y are the stake holder (companyA X33% Y67%)(companyBX51%Y49%)companyC (X51%,Y49%). As a social cause & obligation to cater the needs of the people residing in the town ship a school was constructed. An agreement has ben entered by company C with the school management. The school was constructed by company C.
My query is whether the assets (ie) school building,furniture & others should be capitalised in the books of company c ;
if the cost of the fixed assets pertaining to the school are shared among the 3 spvs then how the fixed assets should be maintained;
whether all the 3 spvs could claim depreciation on the fixed assets

we have procured 610 chairs & the value of # 1chair is Rs2600/-. Total value is Rs 12 lakh. Whehter we have to charge 100% depreciation on the furnitures (or) depreciation should be charged on pro rata basis (ie) if the asets are getting capitalised on Nov 01, 2009 for that period. The companies act &IT act allows for 100% depreciation.
my query is whther depn is to be charged 100% on Nov 30, 2009 (or)depn on prorata basis.
reply at the earliest is requested.

Dear Sir's & Friends,

Ours is a Diamond Polishing company & we pay reassortment charges before selling or exporting the C & P Diamonds. Actually the goods are already assorted & are ready for export or sale in the market. Some consignees want us to reaasort the same before exporting. Such charges are debited as Reassortment charges in our accounts & T.D.S. @ 11.33% is deducted. My question is can we include this kind of expense in our Cost of Goods Sold. Please help

Hi,

I am Nitu Pandey, working with a software company as an account Executive. I want to know about procecing packing credit & what is documentation for this.

Thanks & Regard
Nitu

Hi,

I am Nitu Pandey,working with a software company as an account Executive. I want to know that what is the procidure of Bill Discounting.

Thanks & Regard
Nitu

what is the meaning of penal interest?
plz help me..

how will a propeitor maintain his personal and business balance sheet

CAN I COMPLETE THE CPT COURSE IN 10 DAYS.....PLZ TELL ME I CANT STUDY BCOZ OF MY ACCIDENT.......

Can any of respectable experts make me clear that while passing journal entry in the books of transferee company -what treatment of STATUTORY RESERVE of transferor company will be done (Amalgamation in nature of merger )

I know that in nature of Purchase -it is done as follows :-
Amalgamation Adjustment a/c Dr.
Statory Reserve a/c Cr.

But in nature of Merger -its little bit confusion.

thanks in advance

X, who is selling products ABC, EFG,IJK, sells goods on 6 Months credit to Y of Rs. 1,00,000 on 01.04.09 for which details are as under--------------

Stock No. Particulars Qty Rate Amount
--------- ----------- --- ---- ------
101-110 ABC 10 2500 25000
146-150 EFG 5 2000 10000
201-220 IJK 20 3250 65000
TOTAL ------
100000
------

on 31.08.09 Y has closed down his business & following goods ve been returned
by Y for final settlement-----------

MNO 20 2500 50000
QRS 50 1000 50000
TOTAL ------
100000
------

X is not dealing in product MNO,QRS.

My question is how can I record those good in my Stock register