Hi,

Can anyone pl tell me Interest on Rent paid and Interest on rent received journal entry with example and also B/S effect.

Dear Expert,

Please solve my doubt :
while preparing the cash flow - in movement in working capital-why we taking even non current item

As on 31st mar foreign creditors payable. What is the fluctuation entry? $ upward it means liability also raised? And in 1st april is needed to make reverse entry for fluctuation to return in purchase value as before of last year ?? Is there any way to make provision on 31st , and fluctuation entry in p& l when actual payment made next year.

Dear Sir,

My first query is... Like in FY 2017-18 , my company had already used MAT credit but after assessment completion in FY 2019-20 it comes to know that we still have MAT credit because of some reversals in FY 2017-18.....then how to bring that MAT credit again in books ? Please let me know the entry to be passed.
If the effect is required to be given in P&L then in which head ??

My second query is......Like for FY 2018-19 after assessment it comes to know that there is a refund which is yet to receive but it is nowhere in books...then how to bring that too in books in FY 2019-20 ? What entry is required to be passed for the same ??

XYZ raise the bill to ABC Amount of Rs 22500/- . SGST Rate 5% , CGST Rate 5%.

How I calculate the GST under Reverse Charge Method.

What will be the accounting entry.

I have an accounting problem. During FY2019-20, a party had purchased a new motorcar for Rs.11 lakhs in the month of Nov. 19 and paid full amount for the motor car as per bill of Kataria Automobiles.
After taking delivery, Kararia Automobiles returns Rs.7000/- to the party without issuing any invoice for Rs.7000/- only direct credit to party's bank account, after one month.
Now what treatment in accounting must be take??
The motor car value be (Rs.11 lakhs less Rs.7000/-) Rs.10,93,000/- for depreciation or Rs.11 lakhs?
Rs.7000/- as income/Discount received? There is no documents available for Rs.7000/- only bank statement showing Rs.7000/- directly credited through NEFT.
Please advice on the correct accounting actions?

How to maintain accounts for bakery in TALLY ERP9 is it neccessary to create stock item? is it neccessary to maintain stock journal? is it necc. to post production entry? pls advise step by step creation of heads of ledgers and inventory details.

Read more at: https://www.caclubindia.com/experts/how-to-maintain-accounts-for-bakery-1302879.aspai

Please inform me in details the concept of HYPOTHECATION & MORTGAGE with example.

If employer gives commission to his employee so tds will be deducted u/s 194H ? What will be rate of tds in such a case ?

I have transferred the amount of Rs 975000/- from Bank of Baroda to SBI through cheque of Bank of Baroda. Cheque dt 11.04.2020 . I have send the cheque to Bank on dt 13.04.2020. SBI has credited of Rs 975000/- on dt 15.04.2020.

Which date to be considered for accounting entry in Tally.