RESPECTED ALL
FOR CALCULATION OF GOODWILL IN A PARTNERSHIP FIRM BY AVERAGE PROFIT METHOD,HOW MANY NUMBER OF YEARS .EITHER ACCORDING TO LAST REVISED PARTNERSHIP DEED OR OLD PARTNERSHIP DEED?


WITH REGARDS
BALU

Dear Friends
What would be the entry of loan taken against FDR and closure of that loan account after one year?

Thank You

A society in Maharashtra is registered under both Societies Registration Act & also The Bombay Public Trust Act, it has to maintain accounts as per which Act:
1. The Societies Registration Act or
2. Bombay public Trust, 1950???

If I am unable to find that cheque kisse aya hai to kya kare

Dear Experts i had purchased 500 shares of value 200 rs each and i i show them as investments in my balance sheet...i have a query that if the price of a share at the ending date of my balance sheet changes to 500 should i value them at 500rs or rs.200? please help.

QUESTION: I have sold goods in foreign. Please guide me.
EXPORT SALE (IN USD) 34,150.00
SHIPPING BILL RATE Rs. 66.40
REALISED (USD) 34,093.00
REALISATION RATE Rs. 67.14
FOREIGN BANK CHARGES (USD) 57.00
INCOME FROM FOREIGN EXCH. FL Rs.0.74

FOR ABOVE SALE WHICH OPTION IS RIGHT FROM BELOW TWO OPTIONS AT THE TIME OF RECEIPT?

OPTION (I)
PARTY (34150*66.40) CR 22,67,560.00
BANK (34093*67.14) DR 22,89,004.02
BANK CHARGES (57*66.40) DR 3,784.80
INCOME FROM FEF (34093*0.74) CR 25,228.82
TOTAL 22,92,788.82 22,92,788.82

OPTION (II)
PARTY (34150*66.40) CR 22,67,560.00
BANK (34093*67.14) DR 22,89,004.02
BANK CHARGES (57*67.14) DR 3,826.98
INCOME FROM FEF (34150*0.74) CR 25,271.00
TOTAL 22,92,831.00 22,92,831.00

x company revalued the land & building say for rs. 500 the boook value before revaluation was say rs. 250.

Now the assets is sold for rs. 400 .

So my question is whether rs. 100 capital loss can be adjusted with the revaluation reserve. If so what would be journal entries.Here the entire revalued assets is sold .

A Private Limited company having rural agricultural lands (fixed asset and not stock in trade) and portion of the said agricultural land was acquired by Govt. and paid compensation. Rural agricultural land not being a capital asset as defined u/s 2(14) of the Act, the capital gain arises on transfer of said land is not taxable u/s 45 of the Act. How to account for the same in books of account of the company in view of MAT u/s 115JB of the Act.

Transfer premium received by housing societies shall be considered as balance sheet item or income and expenditure item ???

please tell me what is petty cash imprest and non imprest system (with the suitable example ) and also how to verify petty cash during audit with the help of these system.