i have just attempted for November 2015 exam..on group 1 accounts exam ..i have left full 2 blank pages ...being in hurry i overlooked that fact...i have attempted more than 30 marks after that 2 blank p ages..i am really scared,i should have written PTO..but i didnt..i cant concentrate on anything...please tell me what can i do about it..?

what is valuation of closing stock ?

Why closing stock when inside Trial balance shown at one place only? But when it is outside the Trial balance it is shown at two places. I know it is due to double entry effect but I want to know it in depth and the logic behind it.

Dear Sir,

Please inform us about that How many reminder emails can be put to customers to get the outstanding.

Kindly request you to reply soon sir.

thanking you

Dear Sir,

We are Manufacturer and request you to tell us about Closing Stock Calculations.

Can We add all direct expenses to closing stock?

Kindly Reply sir

while computing depreciation under sum of years digit method, Why do we consider digits in descending order...what is the logic behind it?

what is difference between cost center and cost category with examples ?

I have a very basic question. As the price of listed companies share keeps on changing every now and then, will there be any affect in the books of accounts?? I mean whether they pass any entries for the changes in price at the end of the day?

My client got a prize of Motor Car in housie at Club. To claim the Prize he has to pay all Government taxes. He has paid Rs. 4.25 Lacs to the club as various taxes. He is ready yo show housie prize as Income from other sources and pay @30% tax. But he wants to claim depreciation on full amount of car instead of Rs. 4.25 Lacs taxes amount bear by him. Can he do so? Please clarify with reason. I also insist all to refer Section 43 (1) of the Income tac act before posting their reply.

Dear Friends



A sells goods to B for 100000 on 1-4-15. A gives B credit period of 10 days. If B doesnt make payment within 10 days A charges B interest @ 24% per annum.



On 25-4-15 B makes payment of Rs. 80000. He aint paying anything more.



A is loosing out on rest of Rs. 20000 plus interest he would have earned had B made full payment with interest for delayed payment.



what will be entries in books of A and B, full entries from beginning till end.



thanks



shivani