Sir.Iam seeing branch Accounts firm in that dealer and subdealer maintained at H.O and branch.Suppose Debtors Amount received by HO for branch for sake if subdealer.What is the accounting entry in Ho and branch.plz clarify

my query is suppose we purchase a asset bill from creditors on 30.3.17 and payment to creditors on 15.4.17.what is the accounting entry or any payable entry on particular dates.plz clarify

is freight paid on purchase of goods is added to the amount of purchases for valuation of stock ??

whether UPS purchased for computer already in the company can be capitalized?
no computer purchase in the current year

Who will be responsible for the TDS deduction on Transport bills in the case of C&F agents who give the transport reimbursement bill.

Dear all if anyone guide me?? while depositing tds I wrongly mentioned assessment year 2017- 18 instead of 2018-19 on tds challan for the month of April 2017,how it can be rectified? and what is the procedure? what is the effect if it is not rectified?

How to Calculate Cost Of Goods Sold, which formula we have to take? Plz Help me out..

A pvt limited company was incorporated in 2011 but the company has not commenced any activity yet. Please tell me how to account for the expenses incurred in relation with ROC and expenses related with getting the environment clearance certificate i.e. amount paid to consultant and to government

hello Experts,

Can the below mentioned treatment in Balance Sheet is sound for any Proprietorship Business (No tax audit):

Liabilities:

Opening Capital 20,00,000
Add: Current Year profit: 4,00,000
Less: Loss on Sale of Part Business: (3,00,000)
Less: Loss on Sale of Fixed Assets : (20,000)
Less: Drawings : (10,00,000)
__________ 10,80,000

Loss on Sale of Part Business : Assessee has sold his major loss making unit.
Loss of sale of FA : Assessee has also sold some of its depreciable assets at a loss (i.e below its wdv)

Now i need your advice on this, can we show these losses in balance sheet like this ?
As if we treat these losses to be in P & L, the same should ultimately affect the capital, with a Current year net loss.

Thanks & Regards,

Sir one person have taken lic of rs 2000000 and till now he has paid premium rs 400000
So my query is how much amount should be shown in personal balance sheet as asset