dear all
if i given rs 50000 to one employee for expenses use only in cash on 20/1/16 and on 17/2/16 say after around one month they have given me expenses details and they made expenses on different date.so can i make journal on 17/2/16 or i have to make entry for particular expenses on the date when it incurred.b coz if i will make entry on that particular date when expenses incurred i saw that the journal number has been changed

if A company takes loan from B company and B company director is giving guarantee for A company in obtaining bank loan are A co. and B co. related

LTCG - ANY WAY TO SAVE ONE PLOT PURCHASE IN 2008 NOW IT SOLD SO HOW CAN SAVE THE LTCG PL GIVE SUGGESTION THANX

we being a company entered in an AMC with another co. the party has given us a bill for the period 1st dec'15 to 31st may'16 of 50% amount of rs.35000/- excluding service taxes & cess. (Total AMC is Rs.70000/- excl taxes) & we are to make the payment on feb'16. my query is what will be the journal entries to be passed in the given case when 2 months expense relates to next F.Y

I have to compute the purchase consideration used by Thick Ltd to buy Thin Ltd. The assets and liabilities of Thin Ltd on the date of amalgamation being: Land and building 180000 Plant and machinery 125000 Stock 250000 Debtors 290000 Cash at Bank 15000 Paid up shs (10 rupees) 600000 Prov for doubtful debt 10000 Creditors 75000 The purchase price was to be discharged by the allotment to the shareholders of the vendor company of 8 shares of 10 rupees each( 9 rupees paid up) of the purchaser company for every 10 shares in the vendor company. Dissenting shareholders of 500 shs are paid out as 14 rupees per share.

Hello Everybody How were the three golden rules of accounting formed? What is the logic behind those rules?

Hello,
Myself Asif Shaikh, I am a teacher by profession. In Ty BCOM SEM VI FINANCIAL ACCOUNTING text book (Manan Prakashan, first edition - Nov 2014, pg.43 worksheet 3, chapter 2) It shows "salary to salesman" be allocated on the "ratio of sales" however salary being fixed in nature we should allocate it on the basis of time. After discussing with the publishers I got the answer as below:
The division of ALL REVENUE ITEMS (Income and Expenses) between pre-inc and post-inc. is first done on the basis of specific details available. It is only when the details are not available that the Time Ratio or Sales Ratio is used for dividing the items. As a rule Time Ratio is used for all administrative expenses; and Sales ratio for all Sales expenses. "In our opinion depreciation on delivery van and showroom rent should be divided in Sales ratio."
However, as per common understanding both depreciation and rent would be fixed irrespective of the amount of sales. The main objective here is to find out the pre and post incorporation profits and thus even if no sales took place in pre incorporation, the expenditure of rent and depreciation will be charged to profit and loss account, and thus all the fixed expenses which are irrespective of sales must be charged to the profit and loss account on time basis.
Can you please help me get an appropriate answer for the above.

Thanks and Regards,
Asif Shaikh.

Dear all, please clarify the below point in my salary break up,around 6000 is employer contribution to Pf and same is mine , my doubt is that amount is will be consider as non taxable income or the employee contribution only the non taxable income ?

dear sir

in hotel industries if concern asseessee having hotel property on rent agreement and concern assessee made expenses on furniture fitting. addition in such property ..!!!
so my query is accounting treatment of such exp ...!!
whether i have to book as revenue .. or capitalized such exp..!!!
if i have to capitalized then how ..? because i have such hotel building property on rent ..!!
i hope i will get correct answer from experts and my senior ..!!
thank's

what is the limit for deposits by directors or their relatives i.e. to what extent directors or their relatives can provide loan to the company ?? can companty can accept unsecured and interest free loan from directors or their relatives ??