In our creditors books our a/c is debited (means on debit side of our ledger in our creditors books)with rate difference of rs. 3600 when we pass foll entry then only we get our creditors ledger a/c tallied in our books with the one provided by them
entry:::
Rate Difference a/c dr 3600
to creditor a/c 3600

can u plz tell me why so
cant we pass other entry and tally and only this entry tallies it
rate difference in above case is our exp or income

Hellow,
In the case of proprietor Invst in MF has been showing overvaluation for last 3 years and I want to rectify same this year.
How shall I proceed,
1)Shall show it as a loss is there any problem?
2) Shall I debit it proprietors capital account?
3) Pls guide me if any other method which is safer for the client.

please explain me how to calculate fd interest on non-cumulative and cumulative fixed deposit. please explain accrued interest concept with journal entries and what will be the accounting treatment in current year and in the next year ? what will be the entry of accrued interest in the next year?

If we purchase a machinery and cst is charged toi it then wat entry is passed.
and
is cst niled by passing a reverse entry
also
cst account is crested under wat head

A Ltd, B Ltd and C Ltd are companies registered under companies act, 1956.

A is holding company of B and B is holding company of C as at 31.3.09.

on 30.6.09, B ltd sold C ltd to A Ltd.

How will the Company present the same transaction while preparing Consolidated financial statements (CFS) of BLtd as at 30.6.2009.

Should it consider the results of C ltd upto 30.6.09 in its CFS?

What is the logic of computing Profit/(loss) on sale of subsidary in CFS ( AS per AS - 21).

Pls let me know the accounting treatment of mining right acquired by Coal mining company in its books of a/c.

Whether it should consider the same as Asset?
If yes, then should it be considered as fixed asset or intangible asset?

How should the Company amortise/depreciate the same?

1. what is meant by the cost of acquisition of the shares?
2. why is nominal value of the shares, debentures always Rs.10/- or Rs.100/-?

Dear All

Kindly tell me the method of accounting of derivative. Should we account the purchase and sale transactions of derivatives or the gain or loss arising on sale or purchase of derivatives?

If we are required to account only the gain or loss on sale of derivatives, then how can we determine the tax audit is applicable or not for derivative transactions?

Kindly throw some light on the same.

Regards
Suparna K S

Dear experts

For A.Y. 2007-08, income tax liability of a proprietor was Rs. 995 and TDS paid was 4041 therefore Rs. 3046 was refundable. Entries for the above amounts were not passed. Please tell what entries should be passed for the above amounts and on which date?? Please help.

Thanks

dear sir/mam
I am just commerce graduate and working with CA Firm since 2 years. my question is on which portion of accounts , I should command so that i can grow up in industry and even in MNC i will able to work with a high package?