We are to develop sample product for our overseas customers. What is the entry to pass in our books of accounts. Our product is excisable . So we pay excise duty on sample sales by raising an Excise Invoice.Excise duty payable account has been opened under Current Liabilities group.( As we use Tally package)

Regards
Chinmoy Chatterjee

A manufacturing company purchases sign boards to be put up on its retail outlets. Is this expenditure in the nature of capital or revenue?

IF COMPANY INCURRED rS.60000/- FOR PURCHASE OF 24 CHAIR .THIS EXPS SHOULD BE CAPITALISED & ORGINAL BILL IS REQUIRED OR ONLY RECEIPTS WILL BE ENOUGH FOR CAPITALISATION THE EXPS.

Can there be closing stock in Trial Balance?
If yes, then how?


Regards,
Jinesh

how should the following transaction be shown in debtors ledger adjustment account in the general ledger :

>Bills receivable drawn during the 3 months (1-1-2003 To 31-3-2003) totalled Rs. 30,000 of which bills amounting to Rs. 10,000 were endorsed in favor of suppliers. out of the endorsed bills, one bill for Rs. 6,000 was dishonoured for non-payment as the party became insolvent, his estate realised nothing.


>cheques received from customer Rs. 8,000 were dishonoured, a sum of Rs. 2,000 was irrecoverable; baddebts written off in the earlier years realised Rs. 11,000

Whether retention money is to be excluded while calculating sales turnover?



If retention money which belongs to contracts on going?

can ny give me the diff. between

BalanceSheet date & Reporting date

Thanks in Advance

What is the journal entry if preference shares worth Rs. 100 is issued at a premium of Rs. 5 and redeemable at a premium of Rs. 3?
Entry is required at the time of issue of shares.

Dear Sir ,
i am working with telecom company here i face some probem while doing this entry
plz help
my item value is 5000
add vat on 90% 607
add service tax on 33% 170
total 5777

I had applied for shares 2 yrs. back but allotment has not been made till now and it stands in my balance sheet in the name of Share Application Money. Can I claim this amount back?
Or What else to do with this investment?