1)THE LONG TERM BORROWINGS HAS BEEN CONVERTED INTO SHARE CAPITAL BY PASSING A JOURNAL ENTRY AND HAS ALSO COMPLIED WITH ALL ROC REQUIREMENTS, DOES THIS TRANSACTION EFFECT CASH FLOW STATEMENTS?

2)AS PER COMPANIES ACT 2013,SOME OF THE ASSETS HAS BEEN WRITTEN OFF AND ROUTED THROUGH RESERVE FUND,BY PASSING A JOURNAL ENTRY,DOES THIS EFFECT CASH FLOW STATEMENTS?

Request your suggestions..

What will be accounting treatment of Advance Received against the service to be rendered and at the time of the invoice generation? For Example :- 30/12/2015 :- Received advance Rs 100000 02/02/2016 :- Service Rendered Thanks in advance

We are four friends who had started a small coaching this year in May. We have still not registered it so its technically not A LEGAL ENTITY.
All the four invested equal amounts for setup which included deposit amounts and rents, assets such as chairs and other expenses made to start the coaching.
Yet, after a few months of operations, two of the partners have to leave, due to their personal reasons. So we decided to distribute all earnings made till then equally (inc amount earned as well as deposits that we got back as well as any amount from sale of assets). In the end, there was a loss of 2500 each.
Now, Two of us have started tutions at my home. I would like to know if we are liable to pay the other two the amount that they lost in the process?
Although its not a legal entity, i would like to know how it would work if it was one.
Please do throw some light on how incomes and losses are divided.

if acompany have PBT of -4032.5 and tax rate is 33% what should be its PAT

Dear All,
We planing to open one new company (partnership firm)
we are buying ciger from india and usa then selling to customber.
please let me knw what are the document requied for registation abt accouns
thank in advance

In this ques in takeover entry
Deb are taken at RV=115000
But creditors at 300000
Shouldnt they be recorded at 3 lac - payment 1 lac = 2 lac (RV)

Ques wording as follows:
Deb holders in reckless ltd are to receive 6% debentures of face value 115000. Careful ltd will issue to the shareholders additional 20000 shares of ₹20 each. These shares are fully subscribed & out of the sum received 100000 is paid to creditors.

B/s value deb : 200000
Creditors : 300000

We have paid Rs4800/- towards room rent and food expense of 1 Board member which comes for the board meeting. on which head we can expense the same .Thanks

is IND AS applicable for may16 if no then what are the changes in the AS

Dear Experts,

1)
If we pay certain costs like electricity, telephone, internet etc of Employees House then those costs needs to be debited to respective head of expenses or to salary account as perquisites.

Is the answer will be same - If the bill is in Company's name or in employee's personal name ?

2)
Finance Cost under Schedule VI covers Credit Card and Bank Charges ?

3)
"Heat, light and power" HEAD under schedule VI covers Petrol Used in Cars for Delivery of Products to customers and also Directors' Car Petrol Charges ?

PLEASE CONFIRM.

THANKS

REGARDS