Respected Sir Can u tell me that what will be the accounting Treatment of Bank Overdraft as Journal Entry..?

Please Help, 1. which amount to be transferred to Reserve and surplus/ Retained earnings in case of change of Depreciation as per schedule 2 of companies act 2013? 2. and what effect of life of particular asset is no longer? 3. What effect in future of sales of fixed assets?

what is Difference between Expenses and Expenditure..? plz explain through example.

Hi, Kindly help me in this entry computer purchased and gifted to students . How the entry to be passed as it is not asset of the university But whether it has to be treated as revenue expense or capital expense. It is not a asset of university. So we cannot treat as fixed asset Please help me in this entry.

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please let me know that I purchase computer for office as a fixed assets with discount then which amount I booked as a fixed assets with commission or without commission.

Sir, we had done sale to one of our customer on feb 2016. In this regard we already done sales return in the month of mar 2016 . but the party are not received our parcel , they didnt taking our sale transaction in the month of feb 2016. They ask they want to enter our sale transaction in the month of may 2016. so we want to revise our return what is done by us in the month of feb 2016. so please give me suggestion is it right or not if we revise our return.

Greetings of the day Respected Professionals

I have one query in the matter to Retail sale Transaction. One of my client has started business on selling the goods on Flipkart. Now, he is enclosing Retail Invoice in the name of Buyer. but he did not get payment from that buyer, he gets it from Flipkart. Now how this accounting treatment has to be done.

Flipkart will pay him after charging his commission and all other Shipping charges.

So kindly help me with this matter. how i post entries in the books of accounts and settle the account of Flipkart

Dear Sir,

Can we show the debtors due when we follow the cash basis of accounting system.?
exp:- In a school all students are treated as debtors at the end of FY.there are some due from them.

Now according to cash basis of accounting system how it will be shown in account??

there is income which is "Interest on capital" for a partner
& there is expenses which is "interest paid due to loan taken"
Loan is taken for the purpose buying shops to run the business...

Whether both can be set off in ITR-3 ??

Our contractor is constructing a RCC road . As per contract he can submit RA (Running accounts bills ) . These RA bills are booked as capital work in progress. During March contractor has completed some part of work but not submitted the RA bills as measurement was pending . Whether liability under capital work in progress is required in march accounts . Keeping in view the fact that such liability will increase both assets and liability .