Sirs,

A Private limited company is under formation. In the mean time if the promoters are intending to invest in some computers/furnitures etc., in whoose name should they rise the bill? Whether in 'to be' director's name? or company's name( also what if the name is yet to be finalised?).

Waiting for the reply...

The client is paying full advance payment under purchase order for purchasing a machines from foreign supplier.

The foreign supplier manufactures and send machines to Buyer after 60 days.

The contracts Value at CIF - U$100000

Full payment is being made to supplier as advance.

At what cost, machines to be capitalised in case
Exchange Rate - Rs.40 at PO Date / Advance Pyt Dt.
Exchange Rate - Rs.41 at Machine Supply at Foregin Port
Exchange rate - Rs.40.50 at Bill of Entry date
Exchange Rate - Rs.40.75 on Machines receipt at Factory Gate.

Dear sir,

i have study for topic deprication but not a full idea this topic so pl brief knowledge this topic pl hepl me

what is the substantial part of fixed assets.
my case is something like that:
a company disposed its fixed assets for about Rs.54 lacs and it consist of less than 1% of it's fixed assets.now i want to know that whether it is substantial part of fixed assets or not

can companies charge different rate of depreciation from that specified in companies act sec 349 or schedule 14.Can companies charge rate applicable as per Income tax act in financial books.

Sir

By which name should Dr balance of creditors be shown in Balance sheet of a proprietor?

Thanks

while following the inclusive method of accounting as per 145A. how the provision should be made for the vat or excise which are include in the closing stock of finished good.pl. give an exmple for the same if possible also give the accounting entry

b/d c/d
debtor rs.132500 147500
(-)provsn rs.20,000 25000
debtor goes bad 70,000 .will the (a)open.&clos. balances r shown IN SCHEDULE SHOWING W.CAPITAL CHANGES,if yes (why). can we show only balance in figure amt. of DEBTOR A/C in CHANGES column of w.capital statement . plz tell me what will be the corret treatment of it while making fund flow statement.


if we take difference of opni.& closi balances debtor ,
what will be done for bad debt & provision made for d.d. of current year in PROFIT & LOSS ADJUSTMENT A/C?

IS IT COMPULSORY FOR THE COMPANIES TO MAKE THE PROVISION FOR INCOME TAX?
CAN ADVANCE TAX OF PREVIOUS YERAS BE CARRIED FORWARD TO PROFIT AND LOSS ACCOUNT?
CAN TDS CAN BE TRANSFERRED TO PROFIT AND LOSS ACCOUNT?
WHAT HAPPEN IF THE COMPANY HAS NOT MAKE THE PROVISION FOR INCOME TAX IN THE PREVIOUS YEAR?
WHAT ARE THE CONSEQUENCES IF THE COMPANY HAS NOT FOLLOWED THE SCHEDULE XI OF THE COMPANIES ACT,1956?

Sir,help me to prepare Accounts.
I didnt attend many of my cochng classes becoz of training.
I have my PCC attempt in nov09 and i m not able to complete full course.
Tell me Which chapters are most important for this coming attempt?
Which chapters i have to prepare first?