Dear friends, Its pleasant moment for me to lay my question among an educated body,

Question:-

XYZ limited is in woolen business, it have approx 1000, sheeps both male and female, company get the sheep hairs from its own live stock as raw material and than convert the same in finished product as “sweater” and other woolen clothes.
Company do supply to wholesalers and dealers via its own transport have some land conveyance such as trucks, lorries and other live stocks as MERE, HORSE, ELEPHANT, and CAMEL to supply the final products at hill stations and in tribe areas where the land conveyance not available.

NOW question arise…..
1 How we can treat the sheeps (male and female) and their kids in books of accounts, are they as stock or assets for company ?
2 What is the accounting treatment for the transportation mode as horse, mere, elephant, camel and their kids, are they fixed assets or stocks (as capital item or revenue items)
3 how we will treat the milk and other byproducts dung etc of all the live stock as sheeps, mere, elephant, horse, and camel

Please help me to get the suitable answer in the light of accounting standards, company or other laws.
If you need further clarification than please let me know


Thanks & Regards

Syed Jamal Haider Zaidi

HOW TO DO FORECASTING , I HAVE BALANCE SHEET FOR 1 YEAR AND PROFIT AND LOSS A/C FOR 4 MONTHS IN MY HAND

HOW TO PREPARE FORECASTED BAL. SHEET AND P&L A/C FOR NEXT 2 YEARS, PLEASE GIVE ME SOME IDEA?

Dear Sir,
please tell me about imprest A/c, I am working in logistics company, here director of company incurred petty cash exp. from their pocket, they called me about create of imprest a/c, they first incurred petty exp. From their own pocket thereafter fund transfer in his account from company bank account.


Thanks in Advance

The subscribed share capital of s ltd. is rs. 80,00,000 of rs. 100 each. There were no calls in arrear till the final call was made. The final call made was paid on 77,500 shares. The calls in arrear amounted to rs. 62,500. The final call on share will be :
(a) Rs. 25
(b) Rs. 7.80
(c) Rs. 20
(d) Rs. 62.50
Please answer given with explain.

FOR F.Y.10-11, THE FILE IS UNDER SCRUTINY AND NOW THE I.T. DEPT. GIVE THE ASSESSMENT ORDER WHICH AMOUNT RS. 10000 AND WE PAID THE SAID AMOUNT.
MY QUESTION IS HOW DO WE TREAT THIS ASSESSMENT IN ACCOUNTS & HOW WE ADJUST IT IN ACCOUNTS?

Dear Sir,

I am running a small school. Many times my employees submit the fake bills regarding the school expenses.
Many times I feel that they are computer generated bills.
How can I check and verify those bills ?

thanks & regards
Sandeep

Dear Sir,

I have one query regarding salary calculation.

1st Example :

If some one had Labour work full of month means in February 2014. Means we have to calculate salary for 28 days (Note :as per agreement company not giving weekly off ). Suppose his salary 9000 P. M means its Rs. 321 Per day

Calculation is = 321 X 28 = 9000 P M.

is it true ?

2nd Example :


We calculate salary other way

Month days 28 + Weekly off 4 = 32 Days

Menace 32 days X 321 = 10272/-

Which is Correct ?

1. Calculate the closing stock on 31.03.2011
Particulars 31.3.2010 31.3.2011
Opening stock `30,000 `35,000
Purchases `3,25,000 `4,20,000
Sales `4,00,000 `5,00,000
The Gross profit margin remains unchanged
plz exain it sir

The Companies who are giving Compliance services (such as Licensing, compliance services to STPI/EOU units) to other companies, should follow which costing method which should be standard for whole such practices?

suppose a co. purchase a machinery and it is under warranty period and they issued me credit note for this machinery so what is the accounting treatment for this ?