i have received on bill from house keeping and made entry for the above inv as below


debit expense
debit service tax 12.36

credit vendor
credit tds 2%
debit vendor

anyone can explain how account are effecting in prfit loss account and blance and explain each account how affeted in financel statment

even i checked complete day as well as ledger book also but i did'nt foun any mistakes...so can u tell me the any another ways to tally the trail balance

Due to the changes in depreciation provision as per schedule II, how to calculate the depreciation on the basis of useful life as my company previously using the slm rate and not the useful life for calculating depreciation and also not maintaining any fixed assets register.

and also how to prepare the fixed assets register.

if on the balance sheet date, valuation of stock is made AT COST.
DOES IT AMOUNTS TO BREACH OF MERCANTILE SYSTEM OF ACCOUNTING?
DOES AS-IT PROVIDES THAT VALUATION OF CLOSING STOCK MUST BE AT COST OR NET REALISABLE VALUE WHICH EVER IS LOWER?

Dear Experts,

We are a dealer of Excisable product, during purchase & sales, we post respective ledger like Basic Excise 12% (Purchase) & Basic Excise 12% (Sales)separately.

We are making Quaterly return, at the end of each quater we have to transfer the balance of above ledger to a single neutral ledger account.

Please tell me what will be the name of that ledger account & under which group i will take it.

Regd,

As per requirement of company law, balance sheet must show the term loan in two parts:
1) Term loan portion which is repayable within next twelve months and
2) Term loan payable beyond 12 months

Now my query is
How to calculate the amount of loan repayable within next twelve months if I do not have loan repayment schedule with detailed interest calculation.

Some times loan installment is not fixed (specially in case of loan from nationalized banks), in that case how can I determine the amount which is due in next 12 months

Kindly resolve the query at the earliest.

Dear Sir,
how to maintain manufacturing ccounts for the co.? i.e finished good , wip ledger under which head it should be come ?

Hi,

our company reimburse medical expenses in cash to the employee. Should I book this amount under 'Salary Account' or 'Medical expenses'

Dear friends, purchase of plant & mach for rs 5lac and transpot charges 20000, installation chargs 10000 and insurance paid for 1 year, wht is the asset cost and insurance treatment here.

Dear experts,

A Company has 3 bills of forwarding charges from ABC & Co for Rs. 10000 in April-13, for Rs.30000 in may-13 and in march-14 for Rs. 10000. Whether should i deduct TDS ? If yes how should i deduct ?

Please suggest me ASAP.