Hi,

I have a query regarding purchase entry for purchase of services. We Buy Services which has 12.36% Service tax and sells the same and take input credit while paying service tax.

The Typical Purchase invoice is like this:
amount: 10000/-
Service Tax : 1236/-
Total: 11236/-

So my purchase will be 11236 or 10000? Also can somebody give a sample entry for the same?

What is the accounting entry for conversion of stock in trade into fixed assets?

How profit & loss account will be affected by these entries??

I have a Pvt. Ltd. Co. I Bought machinery for manufacturing by raise a loan a/c. But production will start from next year. Please show me the treatment of finance charges for 1st year, according to "Accounting standard". Which Accounting standard will apply? Treatment for capitalization of finance charges.

Hello Everyone,

Rs.10000 was paid to employee for the purchase and he had purchased of RS.8000 only.He had returned the 2000 to the cashier.
what would be the accounting entry in this case.


Regards,
Chirag

sir what is the exact meanibg o turn over

how to book 'loss of pay' which is deducted from salary?

is it an expense and debited to p&l or it has anything relating to current asset?

pls show the entry...

I am working in hospital and we are getting laundry bill around 12000monthly is there any tds to be deducted

I Nikita Agarwal holding CRO0315034.My roll no. is 148639 result has been with hold. kindly inform me my result and reason for with held.

Dear Sir,

Our Company is buying tractor which will be run in and made use only inside the factory premises.

Can please suggest us where should it be classified ?

a) PLANT AND MACHINERY, or

b) VEHICLES.

Regards,
SACHIN AROLKAR

what is substantial period of time??