Debit note and credit note received by Purchaser or service receiver in which mode tally entey to be made by purchaser or service receiver in their books of accounts.
whether we can booked in Journal voucher mode.
Please reply

whether insurance cost to be capiotalised before instattaltion and commissioning regarding plant and macinery and building.

B ltd (aluminium manufacturer) is going to erect a plant. It is planning to outsource entire erection and commissioning work to ABC pvt ltd with following terms & conditions

1. entire expenses of erection and commissioning to be borne by ABC pvt ltd
2. B ltd will not pay any amount untill plant is ready for operation
3. After plant is ready for operation B ltd will pay ABC Pvt ltd 20 lacs every month for 12 month
4. After 12 months entire rights pertaining to assets to be transferred to B Ltd

My Query ?
1. what will be the accounting treatment of erection and commissioning expenses in the books of ABC pvt ltd - i.e Fixed assets or stock ?
2. How revenue 20 lacs every month will be booked after plant is ready for operation ?
3. when and how assets should be transferred by ABC pvt ltd to B ltd.
4. At what price asset will be recorded in the books and From which date B ltd will be able to claim depreciation ?

One developer company pays staff salaries without deducting the EPF contribution from employees. The company pays both employer & employee contributions from their bank account & shows employees' contributions which are actually paid by the employer as staff welfare in books of accounts. If this method is correct? please clarify urgently.

In business which ratios are to be maintained & what is the standard rule for all these ratios.

where may come nigative figure in Profit and loss account and balance sheet.

Dear Sir
Please provide Tent House Balance Sheet & Profit and Loss account.

Thanks

Hello All,

I want to calculate the dep on Projector as per companies Act.

So need a estimated life of projector.

Can I consider Projector in Plant & machinery by assuming the life of 10 years ?

Which account will be debited in case of freight paid for transporting goods returned to supplier(Purchase Returns) in the books of the buyer.

A civil work bill raised amounting of RS 100000/- but the bill was settled for Rs 950000 as Full and final payment. shall the difference amount shown as discount received. What is the journal entries