what is the difference between prepaid expense and advance.

How much cash can be withdrawal at one go by a Private Ltd. Company for day to day requirements. And the open cheque needs to be issued on whose name for cash withdrawal, it be self, cash or on directors name.

The accounting entry for a purchase is here as follows,
Dr.Purchases 1000
Cr.Supplier 800
Cr.Scheme 200 (this is treated as income).
The problem is that this scheme they deduct is actually paid by us for their sales promotion expenses (for purchasing gifts,for giving credit note for distributors etc.)
So here are the questions,
1.Should we treat the Rs.200 Scheme as liability?
2.What is the product cost actually we incur for the above product.

journalise the following opening entry please.

Cash in hand Rs.2000/-
plant Rs.50000/-
Debtors Rs.10000
Creditors Rs.8000/-

food expenses incurred for statutory auditors , under which head this expense shall be booked? any separate disclosure is required? can it be booked under the head of staff welfare account?

I wnt to do industrial training after completing my two years of articleship. What if my current principle dont allow me do that?? what steps should i take in that case?? plz help me out

How I creat password folders?

i run software business. i am liable for first time audit for the year 2013-14. i withdraw cash in the month of feb march for cash exps to enter on voucher basis. both personal a/c and business a/c is maintained.
i ask you whether i can contribute cash in my business as capital in my bsiness? what is accounting entry? and how much i can contribute cash

DEAR SIR,

My client has been taken running factory on rent @ 75000/- pm. Owner of factory is having his own trading business in same premises. In other word my client is manufacturer & owner is trader. My question is 1) Whether my client is eligible to claim depreciation on plant & Machinery & factory building & other equipment under income tax act? 2) If yes, what are the journal entries in my clients books regarding fixed assets & in the books of owner.
please solve query thanks

Hello, Friends,


plz, let me know the natures of business of batteries and inverters pictures,
for falling income tax return.