We have purchase a business on going concern basis from our associate company under slump sale. it includes take over of all the assets and liabilities related to that particular business for lump sum price agreed.

being slump sale, for assigning values to individual assets and liability, we got fair valuation from independent valuer. we assigned value to individual assets and liability as per valuation report.

the consideration which we paid for slump sale is lower than the fair value of assets and liabilities taken over. the difference we treated in out books as capital reserve.

can anybody help me to confirm whether treatment given by us is right or wrong?

please anyone can provide me accounting treatment and final audit format of chit fund company
please reply

Dear Experts,

An Depreciable asset was purchased by taking term Loan from Bank.Now Subsidy has been received by the bank for which it has opened FD in the name of the company.

How to account for the subsidy?

Regards,

RRV

Can u please guide me about the cash transaction ? What is the limit of cash receipt & payment.

In case if we receive cash more than 1Lac is there any tax implication similarly for payment of cash more than 1Lac?

Please explain in detail

Thanks

Vinod

My Hr says your CTC is 16500 but i recieve only Rs.13006 in-hand,as per Hr CTC reflects pf deduction employer and employee both ,Gratuity Esic and all in my salary slip details are as follow
Basic- 4286
DA/SPL AL.- 4286
HRA- 2857
Conveyance- 714
Medical- 1429
Maintanance-714

Gross-14286

Tax deduction
PF- 1029
ESIC- 251

Net salary-13006


kindly provide what could be the other deduction which makes the difference CTC-16500
to Gross pay-14286 and Net pay-13006

here i need to ask that there are three parties A, B and C. A gave 10 lakh to B through bank transfer and B gave 30 Lakh to C ( through bank transfer) now B is agree to give the payment back through C, means C will directly transfer the funds (10 lakh) to A ( Which was A given to B)

now question is..... is it possible to do the endorsement if yes please elaborate the way and documents required.

Dear Sir/Mam, I am working in a Mfg. Industry. Suppose some stock in godown set fire, then what will be the accounting assignment. Pls answer with Dr. account head & Cr. Account head. (Dr. Entry & Cr. Entry)

we have a real estate company and sale some properties like flats in the financial year 2013-14 and also made sale deed from our govt sub registry office, but some of the cases the value of the govt in some flats were exceeds our actual sale rates, in case what we do? can we show our actual sale value to the income tax or we have to show the govt assessed value in our balance sheet.

Where the Provision for Bad & Doubtful Debts will be shown in the Balance Sheet of a company as per new Schedule VI (Revised). Thanks in advance.

p decides to sell an old piece of equipment & receives rs 5000 cash for it the original cost of equipment was rs 50000 and it had accumulated depreciation of rs 47000. which of the following items would be increased by the sale of old equipment? (check all tat apply) 1. total assets 2. net income 3. cash from financing activities 4. cash from investing activity 5. accumulated other comprehensive income