The co.(like film co.) initially depsosit the amount in a person (production manager) bank account/given him cheque.

further he incur expenses & provide the actual original bill to the said co.

he has no proof of same.

the said person incurs expenses on some items & Bribe.

how we pass entry.

As these amount are neither his income nor his expenses.

like
may be passed

but not showing

1. Bank a/c dr. 50000(salary)+100000(for expneses)
To media co.

2. expenses dr. 50000
To bank 20000
To Bribe 40000

Hi
the expression in part II " earnings in foreign exchange" means income earned during the financial year in foreign exchange whether received or not in that year? is that right? Please clarify. Similarly expenditure in foreign currency whether paid or not during the year.

Reqeust clarification.

how many standards are there in IFRS? provide me the full details & soft copy.

Hi,
An asset purchased and wrongly debited to p & l Account. Subsequently it was traced out and capitalised. Now what is the accounting entry to be passed for the Depreciation not effected in the earlier accounting records.

If A Company Import machineary and for duty payment utilization EPCG licenance then import machine duty free

Queary regarding machine cost which are depreciable inclueding Liceancy value...?

goodwill is dead or alive asset?

The co. has paid application money for allotment of shares & bonds but no shares/bonds have been alloted on the date of Balance Sheet. How this application money is to be shown in the Balance Sheet?

is selling & distribution exp. covered in FBT.

ABC co. has purchsase The DEPB through agent from the market at 95% (including VAT).The bill amt raised by the agent was = DEPB Amt. + Commission + VAT.

Query :
1) wether ABC co. deduct TDS on whole amt. or only on Commission amt.?


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If Co. purchase parts for plant & Machinery, then what will be its accounting treatmnet?