Sir
In the partnership firm, income tax paid by partner on firm income and cash withdrawn in firm has drawings Rs. 50000 and 30000 to be account in his individual accounts.

Dear Sir,

I have a import and i have import from china, my supplier is raised invoice 25.08.2018 and i have received import consignment at Port on dt 20.09.2018 than i have filed bill of Entry for Import Consignment.

Kindly advise us which date are consider in our Booking stock in our books Bill of Entry date / Supplier invoice date.

Looking forward for your urgent reply.

Thanks

I manufacturer an item using raw material, electricity,labour . Costing ₹54/kg . Price break up -48+5+1. So how should I show my production in buzy software costing 48 /kg and then take out a sales bill of ₹55/kg or can I show costing ₹54/kg and then take out sales bill of ₹55/kg. Plz help

Hello, can anyone guide me that using MS Excel for billing in business is legally correct or I have to buy a software like Tally etc. because I don't want to invest 20k for a software at the early stage of my business.

Toll charges, RTA allotment charges,,parking charges, come under which ledger group, can petrol& diesel charges should be shown seperately or included in vechile maintanice account.

What will be the effect of expenditure on liabilities side of a balance sheet in balance sheet of a professionals incurred on construction of a building which is not fully constructed & shown as capital work in progress ? What will be its effect on capital account of a professional or a sole proprietor? On assets side all such expenditure will be capitalised & be shown under the head Fixed Assets under sub head Capital work in progress but how it will be treated on liability side of a balance sheet? Pls help.
However for a NPO such expenditure is shown in the balance sheet sa capital work in progress on assets side as well as such expenditure is added back to capital fund but for a profit making business how such expenditure shall be treated on both side of balance sheet.

Opening balance of car = Rs. 100000/-
Addition on 31.12.2017 = Rs. 50000/-
Sale of car on 31.01.2018 = 20000/-

Depreciation = 100000 - 20000 = 80000* 15% = 12000.00
50000* 7.5%= 3750.00
Total Amount of Dep. will be debited in P/L A/c =15750/-

Am I Right ? Please Advice me .

An Advocate raised the bill of Rs 200000/- . GST (18%) under reverse charge method. TDS (10%) under Section 194J. Both Parties under the Same State .

Please inform me the Accounting Entry. It is very Urgent.

Hi Sir/ Madam,

I have a tangible asset of Rs. 7,00,000 in my Balance Sheet after netting off the Accumulated Depreciation
Now I want to close the company by Writing off the Assets & Liabilities
So can any one let me know the Entry for Writing off the Intangible Assets of Rs. 7,00,000
1. Whether it should be written off to P & L Account ? if yes under which Ledger head
2. Otherwise should it be adjusted against Reserves & Surplus ?

Awaiting for your Reply...

sir,
Proprietor has one bank account in the name of his business. He take 2 loans- one for purchasing Car and another for Business purpose. But repayment of both loans is done through his "personal bank account".Proprietor likes to include both loans and relative assets in books of account. My doubt is about the accounting of Personal bank account. It includes deposits from relatives,household expenses etc which are personal only. But repayment of loan and respective interest should be included in Financial Statement of Business. How I will properly account this by eliminating all Personal transactions from Personal Bank account....? Kindly help me