how to enter vat in sales invoice?

Further, by applying the transitional provisions of Schedule II, balance WDV
of Rs 762,500 needs to be depreciated over the balance useful life of 10 years
considering the residual value of 5%. Hence, depreciation for the year 2014-15 and yearly depreciation for next nine years would be Rs 63,333.(SLM)
Cost of asset was Rs 1000000.
Experts plz guide how depreciation of Rs 63333 calculated?

friends I have a query I have given ipcc group 2 now in advance audit I attempted department questions on first page just 20% answer while on next page I answered the same question correctly but forgot to cancel first answer pls tell my full answer will be checked or not?

A company has supplied goods to customer as per contract and invoices were raised however due to a dispute customer did not realize the payment and company built up interest on delayed payment as per contractual provisions. Upon settling the dispute the customer has issued post dated cheques (from June to Oct 2015) which includes the amount of original invoices and interest on delayed payment charged.

Company's accounting policy states that Sales are recognized on transfer of
significant risks and rewards of ownership
to the buyer, which generally coincides
with the delivery of goods to customers.

Accordingly revenue for original invoice was booked earlier.

Further Company's accounting policy states that interest on delayed
realization from customers are
accounted for, when there is no significant
uncertainty that the amounts are realizable.

My query is does receipt of post dated cheques establish significant certainty that amount is realizable and can we recognize the interest income right now instead of when the cheque is actually accepted by bank? Please help

Dear Sir,
We are running a Manufacturing of auto parts Company and for accounting using Tally.ERP 9 latest release. I want to know is "Cost of Goods Sold" can be calculated automatically in Tally?

Thanks and regards

Some doubts about the tally please clarify the situation.
I am creating school accounts
Create students name just like A under its come LKG
Students name A under alt C create LKG group under sundry debtors
Than create ledger LKG school fee under it comes direct income
Than F7 journal voucher creates A a/c Dr
To school fee a/c
F6 receipt voucher
Cash
A

It is correct or not please help me sir
Your cooperation is healthy appreciated
Thanking you sir
Chandrasekhar

what is the treatment for Head office balance in cash flow statement of the branch? We are making cash flow statement of the branch. according to revise schedule we consider it under reserves n surplus in the balance sheet!! like: capital a/c opening balance add: additions( head office) add: net profit during the year of branch less: drawings(head office) How can we treat additions n drawings in cash flow statement of branch?

Sir kindly guide me regarding the treatment of residual value of a plant when the plant is being dismantled during F.Y 14-15.

Question: A private company has 2 partners with equal shares. Assets acquisition value is 10 lacs, while book value is 3 lacs. one of the partners want to buy these assets at book value I.e. 3 lacs. what would be the accounting entry for the sale of assets. Also what is the entry if they decide to adjust it again retained earnings. thanks. Anjum.

hello sir, this is vikash from jharkhand dhanbad, i am starting a business vegetables & fruits delivery service. so please give me some suitable knowledge about bulk purchasing of vegetables and fruits from my local farmers and sale to my local customers. when customers ask for his retail invoice then what am i do? what types of tax liability makes in this (purchasing and sealing) process. please brief me... regards