why is profit & loss appropriation account prepared? and which items are taken in profit & appropriation accounts?

Can a loan accout be opened in the name of Managing Director in the private company where in which his day-to-day deposits and withdrawl can be recorded. As in a private company the Managing Director provides maximum fund and does frequent withdrawls.

Can a private company take loan from its director, is there any limit to it. can a director transfer his personal assets to the company and at what price, can the same be shown as a loan to the company. Is he entitle to interest at 6% p.a on that loan

Hello Everyone,

I am solving a problem related to the calculation of Maximum Permission Financing for working capital requirement based on Tandon's committees recommendation and got stuck at one point.

A balance sheet of a company shows the following 1 item under liabilities section.

Secured loans 450 lacs

It also includes the following additional information i.e.
1. Secured loans include installments payable to financial institutions before March 31st, 2009 of Rs. 100 lacs

2. Secured loans include working capital facility expected from Zonal Bank Rs. 300 lacs.

In this scenario, what figure of secured loan should I include in the current liabilities while calculating the financing limit for a bank.

Thanks for your help

Regards,

Babu Shetty

Self balancing ledger is use for what?

Can a builder capitalise the interest cost of term loan availed for the purpose of building flats (for sale) as per AS 16. Since flats are the current assets of the builder can they be classified as qualifying asset ?

Ankur Bansal

can any one send me a execel format for form3A and 6A where in one sheet we enter a data and in other sheeet form3a generated automaticly

Sir,
My Co. want to declare interim dividend. Can you suggest me what entries I have to passed from proposed to payment of dividend.

I am working in a wholly owned subsidery which is wholly owned by a foreign company. We bill for them for the services provided. How do we account for the remittance received 1) Income 2) Inter-company transaction. 3) If "Income" are any taxes applicable on the Income received 2) If Intercompany then how to record those transations ? Please explain

Why it is necessary to maintain BRS? Give answer in weightage of 20 Marks Or with refrence to 20% Of Any exam.