Dear Sir/Madam,

In the starting of month if Director of Company takes Advance for expenses then I pass entry in tally as
1) Advance for expenses.....Dr
(Under Current Assets)
To Cash
2) Then when they give me vourchers against the advance i pass entry as
Pass Entry in Tally in Journal Expenses Voucher
Expenses A/c .........Dr
To Advance for Expenses
To Cash (if expenses more then Advance given)
Is it right ?

Please Guide .....
1) If Salary of a month is not paid & will be paid in next month mid is it required to book the expenses in the previous month i.e. normally I book the expense of May in May itself Salary...Dr To O/L Salary & when pay O/L Salary to Bank but if in May i donot pay salary & pay in mid of June or July the salary of May is it necessary to book in May if yes it it necessay to pay its TDS before June 7 Please Answer.....
2) If the Company has given Corporate Credit card to the Director for the expenses & if my mistake he uses personal credit card then should he be repaid ?
3) If director purchases a Shoes , water bottel, books & camera from company credit card under which expense will it come.
Awaiting reply
regards
Ami

A PLANT WAS ERECTED 4 YEARS BACK .THE ASSESTS WERE CAPITALISED ACCORDINGLY. NOW THERE IS SOME PROBLEM WITH A SECTION OF PLANT WHICH IS TO RECTIFIED UNLESS TO STATR PRODUCTION. THE EXPENDITURE IS OF CAPITAL NATURE...TO CAPITALIGE THE AMOUNT SHOULD WE HAVE TO REVERSE THE ALREADY BOOKED VALUE OF THAT PART AND IF YES,THEN WHAT WILL BE THE TREATMENT OF OF ALREADY CALIM DEPERICIATION ON IT?

PLEASE CLEARIFY?

Please assist me on the issue ASAP:-

There has been a repair of the concealed rain water piping in the 16 floor bulding costing around Rs 20 lacs. The repairs included the following as major expense:

Labour Charges

Material Charges(Cement etc)

Refixing of new pipes where the pipes where broken

Consultancy Charges

The work was on contract for a period of 1 year and has been complete in F.Y 08-09. The payment has also been made up to date.

My view is that:-

Since the repairs have improved the efficiency of the piping and also there has been addition of pipes at places where it was leaking or broken which definitely increases the future benefits from the new repaired piping, IT SHOULD BE CAPITALISED. Please note that,Had the pipe not been repaired it woyuld have been leaking. Doesnt this mean improvement of efficience?

What are the criterias for capitalising the repairs exp?

What criteria supports my view,which i can put forward?

Anticipating a quick response from all.

Thanks and Regards

Piyush Newar

Dear All,
can any one explain me what is contra A/C and what type of transaction is to be passed in this a/c.(answer will be highly appreciated)

thanks
regards,
shabbir

CAN ANY ONE SUGGEST as we do in AS 20 EPS... IF RIGHT SHARES ARE ISSUED , N WE CALCULATE WEIGHTED NO OF SHARES..... SUPPOSE IN CASE OF DIVIDENDS.. WE HAVE 1000 SHARES ALREADY ISSUED.WE ISSUE 1000 RIGHT SHARES ON 1 JAN... DIV DECLARED ON 31 MARCH...10 %... SHALL WE TREAT IT ON 2000 SHARES OR EQUIVALENT SHARES. 1250(1000{ORIGINAL} + 1000{RIGHT}*3/12).
thnx in advance

Sir,
How can a manufacturing Co.Calcualte closing stock of Raw material,Stores & Spares & Packing material?
Is it calcualted with Basic price or Basic Price + Taxes + Expences ?

We had launched the scheme with our franchisees that if franchisee achieves the target then he will be alloted a new Car.
Now 2 of our franchisees have achieved their targets and are eligible for the Car.
So what will be the accounting treatment. Is it to be called as commission,an incentive or discount or any thing else.

My next question is about the applicability of TDS. Whether TDS will be attracted and if yes under what head.
Further we have not yet given the cars but while finalizing our books we need to take provision on the same so if TDS is applicable do we need to pay immediately.
Similarly we will have to recover TDS from the party since he is paid in kind. So is it a correct to recover the same from him


Thanks in advance

can any one explain me a comparison between bin card and stores control card?

IF VEHICLE IS PURCHASED IN THE NAME OF DIRECTOR CAN WE CAPITALISE IN THE COMPANIES BOOKS OF ACCOUNT? CAN WE CLAIM DEPRECIATION & INTEREST ON THAT CAR?