Our society given purchase Order for Rs.55000/- for purchase of electrical items such as copper wire, MCB's, aluminium cable etc. only 3 items singly have more than value of Rs.5000/- 3.5x35sq mm aluminium cable-Rs.8883/- 8 way VTPN DB- Rs7311/- 4 way VTPN DB-Rs.5747/- My query is how to account the same as expense or to capitalize any item ?

Dear All, I'm preparing accounts of a company which is incorporated in the year 2012 but now it has established it's business and having preliminary and pre operative expenses. My query is how should i recognise it in the accounts as per applicable Standard... Please help.

Sir,
Please tell me
For what all purposes we shall utilize the following reserves?
1.Capital Reserve
2.Capital Redemption Reserve
3.Debenture Equalisation reserve
4.Dividend Redemption Reserve
5.Statutory Reserves
6.Revenue Reserve

Thanks in Advance

Company take a agricultural land on lease and then give it to another company on lease for agriculture purpose. now, what is the treatment of difference of lease rent paid and sublease rent received from another company??? Plz give treatment of difference income(sub lease rent received-lease rent paid) as per companies act and income tax act also.

Sir, There are two charitable trusts, totally independent working in a city, are sharing a common office space, the lease agreement is with one of the trusts, the other one was occupying little space with out paying anything. Now from this year the 2nd one has pay partial rent. Keeping the same lease agreement with one trust, can the other one pay his share, without paying TDS, service tax etc. All these charges will be paid by the lessee for the full value, i.e TDS for the invoice value, and service tax etc etc. Can any one tell me in detail, the documentation including the booking steps.

What if fixed asset is received free of cost by say, a partnership firm and accounting standards are applicable to it. How would be this transaction accounted..?

Hi,
Actually i was doing an audit of bank,
They have done some expense on installing server system, and also some wiring, tape, & other tools used
So is tape used will be capitalised or not?

My secnd querry is that they had a door without hings which they have used earlier , they purchases hings of ₹100, and they install that door, and claiming hings as assets.
Is it really assets???

Reply me soon....

Sir,
I have 50000 receivable from a customer against different bills (100bills). I got 2725 against some invoices (reference not available). Can I find out the possible combinations of invoices amounting 2725 by using excel or any other mathematical formula.

What can we do when partnership deed is silent about treatment of interest on capital?? How can we charge interest on capital from the partners of the firm in this condition....

Dear Experts,

Pls. let me understand below doubt.

We have made payment for Freight Charges Rs. 1,00,000. Invoice date : 05-04-2016. But this expenditure is related for the month of March-16. I have made provision accounting as below?.

31-03-2016 Freight Charges A/C Dr.100000
Freight Charges payable Cr. 100000
(being made provision.)

01-04-2016 Freight Charges Payable. Dr. 100000
Party A/c Cr 99,000
Tds 1% Non-Com Cr. 1000

Is it correct?

Kindly request you to all clear about it.