Hello..

I entered all the opening balances in tally.erp9(Pirated Version) from a given already tallied trial balance. However, inspite of each entry is correct given effect of dr / cr, there still stands difference in opening balance, either on Asset side or Liability side.. I checked thoroughly, it still is the same. Could it be technical error just because i use pirated version??
I would like to add that, i checked all the ledgers right from its previous years..

Please help me to remove this difference

Dear all, a very simple question, can anybody tell me why opening stock and closing stock are considered for deriving profit? Ex: sales closing stock-opening stock-purchases-cost=profit. Whereas actually the profit is sales-costs.So why stocks are considered

Hi Professionals,

We are running a business where our customers paying installments every month and in return we deliver them products at the end of last installment.except this we make a draw every month and winner of draw gets rewards like vehicles,jewellery and iphones etc.we have also a plan if anyone gives us sale,we give them rewards as i mentioned above.we make cash purhcases and give them to our winners.we also give them commision on target completion.my question is what accounting treatments are needed to be done here.do we consider these a sale or gifts.what journal entries are required to be passed.any help would be highly appreciated.

clearly explain the difference between WIP and semi finished goods urgently. If possible with example

Whether initial expense on plumbing on the rented building can be capitalized?

A company spends X amount of money to build a metro station in companies land for convenience of employee commute. But station does not belong to company and none of assets. and station will be used by public also.

What is the accounting treatment? If possible can you give me reference to IND AS or Guidance Notes?

Thanks in Advance for the help.

Regards,
CA Sumanth

M/s X and Y entered into an agreement with Y ltd. for 60% of the issue of 15% 50,00,000 debenture with firm underwriting of 500000. Marked applications were for 35,00,000 debentures. What is the liability of underwriters ?

pls can anyone clarify my doubt's regarding payment made for repairs and maintenance to sub contractor of Rs 40000 for single transaction who is proprietor or partnership firm. for eg XYZ pvt ltd co makes payment to sub contractor for repairs and maintenance services provided by sub contractor . I am confused regarding rates. whether 1% or 2% which one is applicable in these case.

Pls tel

Hello sir

Background :

I want to know the correct treatment of calculating 'Average Capital Employed' for the purpose of goodwill calculation by subtracting from the closing capital employed the half of profits earned during the period when the company has declared and paid dividends for the current year.

Statement:

Balance sheets of a company for consecutive two years are as follows:

                     Y1    Y2.                   Y1.   Y2

capital.       70    70    assets     100.  120

P&L.           30.    50

Total.        100.  120.                 100.   120

And profit and loss appropriation account for Y2 is as follows:

Equity dividend 50.     Bal b/d.        30

                                       Net profit     70

Bal c/d               50

Total.                 100.                          100

Note : dividend has been declared and paid

Query :

Avg. Capital employed by taking simple average of two years closing capital employed will be

(100 + 120)/2 = 110

Avg capital employed by substracting half of the profits after tax from closing working capital will be

120 - (70)/2 = 85

Please explain the difference

Thanks in anticipation