what will be the effect on the profit and loss account if provision relating to any expenditure is not made ? what is difference is directly debiting a loss/expense & debiting a provision ? can any one explain me pls.

What about Depreciation rate of an asset costing less than Rs. 5000/- as per Companies Act 2013?

Hello...
My query is... whether printer is included under the head computer or office equipment for the purpose of depreciation as per schedule II of Companies Act, 2013???

Dear Experts


X sells goods of Rs. 10000 to Y.
Y gives X a cheque of Rs. 10000.
X deposits cheque with bank but it is dishonoured.
Bank levies charges of Rs. 100.
X wishes to recover the charges from Y.


Entries in books of X


Y 10000
to sales 10000
(goods sold to Y)

Bank 10000
To Y 10000
(payment received from Y)

Y 10000
To Bank 10000
(cheque dishonoured)

Bank charges 100
to Bank 100
(bank charges levied by bank for dishonour)

I don't know how to pass rest of the entries of recovering bank charges from Y.


please help


regards

how to calculate WDV at a particular date when scrap value and life of asset is not known..??

thanks

if there is one invoice in which consulting fees and commission both are charged in a one bill .so forwarding letter and a2 and 15 ca and cb should be obtained separately for both payments or common documents for both the payments will do.

Year 2013-14

Plant & Machinery Opening. Value 3,00,000
New machine purchased Rs 5,00,000
added to Plant & Machinery and charged dep.

Note : No concept of block, by nature of asset, asset grouped likewise say Machinery in Machinery.

Year 2014-15

The machinery purchased last year costing Rs. 5,00,000 sold to 3 lacs and VAT collected and paid thereon

Now the problem is how to account for sale of new machine, it is to be deducted merely by Rs 3,00,000, then how to book for loss....

Please help

Respected Members,
My sir visited at foreign exhibition held in Dubai in May 2015. But payment for this exhibition is made in Jan 2015, since the amount involved is huge, i want to clarify, Whether this expense should be shown as prepaid expense in F.Y 2014-15 or not ? If yes,then on what basis??
please reply

Took a loan from HUF account and it transfer to company As Loan. Company Provide 10% Interest.Can i provide any Interest to HUF account??

Plz tell me the journal entries of following adjustments in the internal reconstruction 1. A member holding 100 equity shares of Rs 2 each opposed the scheme and his shares were taken over by a director on payment of Rs 1,000 as fixed by the court. 2.creditor =3,00,000, surrendered shares =2,70,000 Sundry creditors agree to reduce their claim by 20%in consideration of their getting shares of Rs 35,000 out of the surrendered equity shares.