Dear Friends,

I have received some shares from mother will in the year 2013 and Demat them in the year 2019.

But the accounting entries was not yet done in the books of account.

In the year 2020, i have sold some shares and received money in my bank account.

Also i have submitted my final accounts under ITR-3 for the assessment year 2019-2020.

I have no value of shares in my mother file so what procedure should i take ?

Please let me know

1. How to do book entries and what cost of shares to be taken in books at the time of entry ?

2. How to calculate gain/loss ?

dear experts,
pls let me know about the act for giving interest free loan of Rs. 40000 to an employee. How it can be treated in accounting books or we can give the same as advance salary. Employee will repay it from monthly salary for 20 months. Kindly confirm what will be appropriate?

thank you

Dear Sir,

1. I have purchased Fry pan & Mixie for business purpose. That value of the item is Below 5K. Now I treated as Asset or Expenses ???

2. Purchased provision items like rice, wheat & Maida etc for business purpose. we get tax invoice with GST, now I utilize that GST amount or not..

3. And we have own land, so we construct the building for hotel business. So we spend money for Building material purchase (Sand, Cement etc) & Labour charges. Now I treat the cost as asset or expenses.

Please advise.

Thanks in Advance.

There is one query.
There are one proprietory firm(name of firm :- pramukh construction) who construct the government dams and canal.There are GSTN number in gujarat.
Now he want open hotel and want to take GSTN number. so could he get another GSTN parellel number on the name of pramukh foods ?

Dear All,

Can anyone share SBI-TT Buying rate of 31.3.2020

As we write off intangible and fictitious assets in internal reconstruction.
We have to write it off whether it is given or not?
And also about patents, while solving problems I came across 1 adjustment in which balance of capital reduction is utilised for writing down patents.
And the given amount is 6000 and balance amount is 4000.
And the remaining 2000 is considered in the balance sheet after reconstruction.
Why??
What's the reason for it??

Dear Sir,

We have issue check rs. 1,00,000 Date On 1/3/2020 against our purchase bill. the cheque is not pass in 3month now i have split my company data already how to adjustment entry pass please suggest right Answer

How to account the following in the books of a company?
1) Out of an investment (long term) in one scheme in Mutual fund (NAV around Rs.10, assuming), the company switches a small portion of it to another scheme where the NAV is around Rs. 30.
2) Is there any tax implication for the difference like STCG?
3) If the company holds an investment which is considered as long term, and now the company goes into winding up in another 7 or 8 months (Dec'20), should this be reclassified as current investment as on 31-3-2020. If so,what should be the carrying cost of investment?

Dear Experts,

I am preparing accounts for a firm which have made imports. Purchases made in May 2020 and payment will be made in July 2020
While recording the purchase in tally, the USD have to be converted into Indian rupee. Can you please suggest the link from which exchange rate to be taken for recording import transactions.

Dear members,

We are manufacturing company and as a policy we provided the some small advances to our employee to taken care their personnel needs,

We generally recover the money from their salary. But some times employee absconded without paying his advance and it is showing under employee advance in our balance sheet

Pls help me the correct accounting treatment and journal entry for write off the money lying in absconded employee as we don't see any chances for recovery

Pls do the needful