The closing Stock as on 31.03.08 was ascertained as physically counted. Thereafter sale retrun is received after 31.03.08 pertaining to sales made in the year 07-08.
An accountant adjusted the Sales Return against the Opening Stock of 1.04.08 however I am of the view that the Sales return should be adjusted against Closing STock Figure as on 31.03.08.
Pls. advie the correct treatment for Sales Return.
FBT
Which heads can taken for FBT. What its rate and its a/c entries.
Depriciation ( as per income tax )
Sir,
I have gone through a file in ''File Share'' in the name ''Depriciation '' for calculation of depriciation as per income tax.
This excel file is Mr. Amit Sharma.
Pls tell me should not there be ''Before September'' in place of ''After September'' and vice versa.
Pls guide me.
Accounting Methods
In case of companies, is there any complusion to use marcantile system of accounting and if yes then under which section of companies act it is allow to use???
Depriciation
Sir,
Given below the details of fixed assets for the F.Y 2008-09.
1. OPENING OF CAR ACCOUNT AS ON 01.04.08 RS. 540000/- ADDITION ON 02.04.08 690000.00 TOTAL OF CAR ACCOUNT AS ON 31.03.09 1230000.00
2.OPENING OF COMPUTER ACCOUNT AS ON 01.04.08 890000.00 ADDITION ON 1.10.08 140000.00 TOTAL AS ON 31.03.09 1030000.00
3. OPENING OF AIR CONDITIONER AS ON 01.04.08 170000.00 ADDITION ON 07.06.08 68000.00 TOTAL AS ON 31.03.09 238000.00
4. OFFICE BUILDING AS ON 31.03.09 2400000.00
PLS SEND ME THE DEPRICIATION ENTRIES AS PER INCOME TAX ACT AND AS WELL AS COMPANIES ACT.
PLS SEND ME THE DEPRICIATION ENTRIES AS ON 31.03.09 WHICH I SHOULD PASS IN THE BOOKS I.E AS PER INCOME TAX ACT OR COMPANIES ACT.
I SHALL BE HIGHLY OBLIGED TO YOU.
accumulated depriciation
Hi all
I want to know what is accumulated depriciation and how it is treated in accounts. please help me with example
Cash System of Accounting
Cash system of accounting is being followed by school.
It has purchased Assets worth Rs. 100000 /- but has made payment only for RS. 80000 /- in current financial year and balance Rs. 20000 /- is paid on next financial year. Please clarify at what value we have to stand Asset in our books whether at Rs. 80000 /- or at Rs. 100000 /-
what is the secton for TDS on Event management
Sir
Could you please send me that under which section TDS should deduct for event managemant.
PROFIT AND LOSS APPROPRIATION ACCOUNT
Sir,
Could you pls guide me what is profit & loss appropriation account and what is the purpose of it.
pls expalin in detail.
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Accounting Treatment for Sales Return received.