Is it okay to change the classification of a debtor to a creditor if the closing balance of the debtor is a credit balance?

Hello All,

Can some one help me with the Foreign exchange revaluation entry

I have booked the gain/loss monthly , but am confused about the revaluation entry as on 31st March

A business man having a partnership firm can he open the name of the firm in hotel business ? Kindly give me the advice. Thanks & Regards.

I have a private limited company, recently we have a business proposal an with an another company which hold land, the proposal is development of land by construct residential and commercial establishment and sell to third party, for finance angle, we depend mainly on bank loan, and small portion of the development cost has contributed by the land holding company. In this scenario how i treat the amount received from these land holding company, does it required to issue invoice to land holding company

what is the accounting head of bank guarantee

Dear Experts,
1 A company is remitting the settlement amount to the defendant as directed by Court.
2 How these expenses could be acccounted in the company's books of accounts?

I have paid last month West Bengal p tax amount but unfortunately I did a mistake while filling the p tax challan month May 24 instead of April 24 . How to rectify the challan or any process to rectify it.

Hello everyone,

We have taken office premises on rent for 5 years.

In xbrl there is a note relating to - leases where consultant has mentioned as No

Is there any lease transaction - no ?

I have following queries
1. My understanding is that it should be yes but i am sure ?
2. Does this note is as per accounting standard on lease ??

the purchaser bring Tea and sugar for office kitchen use for staff as well as directors tea.
what will be the journal entry under mention expenses head?

whether these terms in accounts are correct
Trade Payable - Vendor, Supplier
Purchase - Inward
sales- outward