NANCY
12 June 2024 at 18:00

Advance accounting CA

Why is capital redemption reserve treated as reserve and not provision though it is created for a known liability?


Kochi Articles
12 June 2024 at 10:24

Trustee lending loan to the trust

Where will be the loan provided by trustee to the trust be shown in the finanacial statements. (Short term unsecured loan)


RANJAN

If expenses incurred at plant site regarding painting on wall at manufacturing plant. Like writing on Building name like admin Block and other site names then which GL will be tag for the expenses.


Philip
06 June 2024 at 11:26

Redemption of Amazon reward points

One of my client holds a lumpsum amount of Reward points which he redeemed to purchase a laptop worth Rs.55000, How can it be accounted ? He has not yet recorded the personal purchases he has made on Amazon as it was from his personal wallet.
What will be the G/L entries to be made to record the same.


MANOHAR REDDY
03 June 2024 at 15:12

TDS/TCS T_FV_6351

while generating the 24Q4TDS revised return, getting an error message like: T_FV_6351 Applicable and Mandatory for Financial Year 202324 onwards 'Other special allowances under section 10(14)'.
even if we delete the entry, it will show this error.


deepak M
02 June 2024 at 12:01

Posting salary recieved

Hi I am planning to record my personal account details in an accounting software, So kindly suggest me for following.
Under Which group should I create Gross Salary, Net Salary, PT, PF, Medical insurance ledgers & how should I post the entry when I receive the salary from my Employer?


Francis George

Hello could anyone please help me with the below query?

We collaborated with a subcontractor for a job, and on their behalf, we directly paid wages to their workers. Now, in light of this advance payment, we're considering issuing a debit note to the subcontractor. They will eventually invoice us for the full job work including GST. As of now, they've only invoiced us partially, with the rest to follow upon completion of the job. When preparing the debit note, should we include GST or not?


Anil S

we have received turnover discount from our vendor of Rs 15,00,000/- and they have adjusted the amount in total balance payable, how should we pass this entry in our ledger


Lucifer Rodriguez

1) Cash Credit Account renewal charges comes under which head ?
2) Bank Stock Audit Charges comes under which head ?


Varshney Gupta

Suppose
I have imported goods on 1.10.2023 by giving advance of 10000 $ @ Rs.50 per $ i.e Rs. 500000 and we received a goods worth 9000 $ @ Rs.45 per $ i.e Rs.405000 ( this entry was made by considering the Exchange rate mentioned in Bill of entry ) on 23.11.2023 we have booked a profit of Rs. 45000 i.e ( 9000 x 5 ) on 23.11.2023. But what about aur extra payment of 1000 $ to our supplier. At 31.3.24 closing rate is say Rs. 51 per $

What is the treatment of the advance in our balance sheet BS and how it affect our PL

As per AS-11 ???






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