IS IT POSSIBLE THAT THERE IS DR BALANCE IN CREDITORS A/C
AND CR BALANCE IN DEBTORS A/C

HOW TO REVIEW THIS?

Dear Experts,

I want to know the accounting for F & O trading and treatment in income tax act.



Thanks,

Please guide on how to set up a sole proprietorship firm engaged in Travelling business.

Dear Sir/Mam

I need to pay Annual Service Charges or Membership and Subscription charges for the F.Y.2014-15 in the current financial year i.e. 2013-14 by 25 March, 2014.

Pls adv.
Kindly show the entry to be passed.

And adv what entry to be passed in the f.y.2014-15

Thnx and regards
Gurvinder Singh

Please tell me the best way to value Inventory

waht is stock statement? why it should to give in bank monthly?

I rent a premisis in a corporate business house. Please let me know if the a/c entries are correct

1) Rent (indirect expenses)
To rent payable
To tds 10% payable
To tds 2% payable

2) Rent pabyable
To bank

3) Tds 10% payable
TDS 2% payable
To bank

If the above entries are correct, the Rent account (under indirect expenses) will show a debit balance. Will this cause any problem?

Kinldy clarify

Dear Sir/Mam
If I need to make a payment for an expense which pertains to period 04Feb13-05Feb14.
Partly, it pertains to F.Y.-2012-13, for which accounts are already closed.
Pls adv what entry to pass?

Thnx
Gurvinder Singh

Dear Sir/Mam

If I need to make a payment for the period 17Nov13-17Nov14, for Rs 4494.00 towards website development exp. What entry should I pass?
Kindly show the entry.
What amt should be carried forward to the next year?
And how to set-off that amt in next financial year.

Pls adv

Thnx and regards
Gurvinder Singh

Sir,
I have a query,A PROPRIETOR firm made payment of 1L in march.2014 one time only to a person (Lawyer). the firm wants to show the said payment in salary
is it possible?
if yes then what should be the narration?

what is the Tax slab of salary.

Pl suggest its urgrnt
Thanks.