Dear Sir

We have issued a cheque to party on today. But it will be clear from bank by Tuesday. Kindly advise how i make the entry in busy.

Thank you

Travelling expenses accounting Entry
Query
If one Company's Director is also partner in another firm.

Another Partner's have travel for business purpose & payment was done by director on behalf of another partner's. Payment done through credit card (credit card register with Director company Accounts)

What entry pass in Director's company account & Partner's firm books of accounts.

our firm 100 % paid in advance by us $ in two installment and goods received after 10 days of final payment.
then what would be the purchase value ?

is value determined by the advance payment date (two installment ).
or value determined by the goods clearing date by the custom i.e. Bill of Entry date .

Sir,

I am a salary person & having a small garment shop as proprietor..
Please advice can prepare balance sheet only for shop accounts or include my salary & Market trading with combined.

Kushagra Pradhan

Dear sir,

Increase in Working Capital means uses of funds

But , How does increase in Cash / Bank means uses of funds ??

Please explain ??

Thanks .

I've been investing in LIC but I'm not showing the same as investment. Now I've received the matured amount back. In case of investment, all are advising to Debit Bank A/c and Credit the investment account and difference amount with Capital Gain Account. But in my case, I've not kept the record of my LIC Premium payments. So I can't credit investment account. In that case, what should be the treatment? Please advise me soon. Thanks.

What is the nature of deficiency account?? Is it personal real or nominal account??

Should a company who has taken security deposit from its distributors pay any interest on such deposit to the distributors?

WE PAID INSURANCE SURVEYOR CHARGES ( FOR IMPORT GOODS CONSIGNMENT AT PORT)
THE EXP. OF INSURANCE SURVEYOR CHARGES QUANTUM IS HUGE.

PRESENTLY WE ARE DEBITED TO PROFESSIONAL CHARGES.

PLEASE SUGGEST SUITABLE ACCOUNTING HEAD.

Dear Team,

i have a question about the credit card.

I am a proprietor. I purchase a Refrigerator of Rs. 60000/- through SBI Credit Card and there are option available for EMI. I Choose them and create 3 EMI of 20000 Each. Now, What entry should i pass in my tally because My Credit limit is reduced by 60000/-.

Please reply