Our Company Sale 5000 no of bag @100/- each to A Ltd. In which 4000 bag have received to party but 1000 bag still in transit ( i.e. Goods in Transit )

what should be ledger entry of this transacton in Our Books and Where Goods in Transit should be shown in Balance Sheet.

and also where this goods in transit will be shown by A ltd in their balance sheet too

If director give cash to company for office exps.
what is the accounting treatment?

if company take money from his employee from his salary and exps incurred in office exps?
what is the accounting treatment.

what is revenue?
what is expense?
what is income?
what is gain?
what is profit?
what is loss?

what is impairment of assets?
when there is depreciation, ammortisation then impairment of assets is required?
what is the difference between amortization, depreciation and impairment of assets??

Hi

I came to know that some banks offer sweep-in facility whereby I can get FD interest rate and Savings account Liquidity .

I was wondering since it is such a good facility why not all customers go for this feature ..

I was trying to figure out if there is any hidden clause in it . Tried researching myself but couldn't find any resources .

Could you please help me

Thanks

if director given some cash to use in office exps, is show in cash book & can claim for exps for company .how would show in books ?

if company transfer to its bank a/c to another person /employees bank a/c to use in company office exps .is it correct then what is the accounting treatment.
awaiting for yr response ,please reply in hurry.
Thanks
Nirvay

LAND IS A NON DEPRECIABLE ASSETS,
IS IMPAIRMENT LOSS IS APPLICABLE ON LAND OR NOT,

HOW EVER AS-28 IS APLICABLE ON ALL ASSETS,

PLEASE RESOLVE QUERRY AFTER PROPER REASONING ONLY,,

HI,

We have disposed the assets of our branch.

But as per TB Fixed asset is showing balance of 1000.00

How to write it off with proper accounting effect.

i have a query mr. a had sold his car to mr.b and as per sale agreement,mr. b will repay the loan taken to purchase the said car.value of car on date of sale is 724170/-. loan amt. outstanding on the same date is 413817/- please suggest the accounting entries for the same.. thanks and regards

I want to know wheathr there is a problem in the practical paper if we attempt theory ques firstly...
I think i failed in june09 aatempt becoz i attempt theory ques first becoz i know almost all theory answers... I checked my practical answers wid suggested answes of ICAI and these r almost correct.
Plz give me suggestion wat to do in my Nov09 attempt..(if i am not 100% sure abt any practical ques and i m sure in theory to secure gud marks).
Plz help..