Dear All,

Let A is an employee getting 30,000 pm as Gross Salary.
Other deductions are PF 1000, PT 200, TDS 1500 out of the gross salary.
Now the employee wants a loan from company for Rs. 60,000 which ll be recovered from him in 12 installments as 5,000x12=Rs. 60,000. Let say for that loan interest is flat 500 per month for the 12 installments.
Then please tell me how should be the entries made so that the principal payment and interest on it can be reflected.

what is the difference between repo rate & rerepo rate

1.What will be the journal entry for consumption entry to be passed at the time of monthly closing and what is the entry for short/excess items found during the physical verification.?
2.what will be the journal entry for provision for bad debts.?
3.What will be journal entry for difference in foreign exchange rate.?

Hi this Neetal Jain........

Can anyone plz say me that the interest which is calculated as per MSMED act 2006 to be shown in books of accounts i mean a provision need to made or a disclousure is sufficent.......

Plz reply soon,....its urgent

Dear Sir,

I wish to know whether we can capitalize Property tax paid to muncipality particularly when our factory building (on the said property)is under construction?

Regards,
s.m.datar

Hie, i wanna discuss one thing with you guys rather wanna know the how to proceed further please help me out......

We have a client the main of whom is to deal in shares and securities the problem is that he had purchased some class of shares in different listed companies at the time when stock market was depicting 21,000-22,000. but now when the market reaches to 14,000 around.My view is to keep the value of share at its Realizable value as per AS-2 but management is of view that we cant do that because our intention is not to sell these shares in the coming session.

This issue has already been discussed with the management of the co. and i am strongly upheld my stand.

DO suggest me with the strong reason so that i can argue with the management.

I wanted to Know what is an accounting treatment for an Investments made by an Individual & Company

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What is the procedure to prepare accounts of a Power Transmission Company ? Also what are points to be considered while preparing books of Power Transmission Company ?

Is expenses pertaining to purchase of Operating system should be capitalised or expensed out? & Why?