Accounts QnA - Page No 692

All Resolved Open

Anonymous

21 February 2014 at 17:53

Accounts

My Co. Has change the land with other co. without consideration all exp. will bear by other co what is the treatment in accounting
Example
Land Given 8Acre in X village and Received in 7 acre in Y Village another 6Acre in A village and receive 7 acre in B Village

Case1 If land is Stock in Trade
Case2 If land is Fixed Asset

According to AS-2 and 10

Venkatesh S

21 February 2014 at 15:38

As-11

We Purchased Assets for Branch in USA when $ rate was Rs 40 But, Now $ rate was Rs 60/- So, when we are incorporating Translation Loss with HO A/c It is affecting HO profit & Loss.
How to come over of this pls refer supported by case Laws ?

Anonymous

21 February 2014 at 12:31

Meaning of sale value/operating income

Please explain me meaning of
Annual Turnover shall be = Sale Value/Operating Income

Can i Consider the Interest Received on FD in Sale Value (Other Incomes)

And how to calculate please give me the formula for calculation

venkatesh k

21 February 2014 at 11:35

Depriciation

WE HAVE PURCHASED 2ND HAND GOODS CARRIER VEHICLE DURING SEPTEMBER 2013 AND WE WANT TO DISPOSE THE SAME BEFORE MARCH 31 2014 AS ITS MAINTENENCE IS HIGH.

PL CLARRIFY.

1.WE HAD PAID RS.2.5LAKHS FOR THE VEHICLE AND WE MAY GET RS. 2 LAKH MAXIMUM. WHAT IS THE TREATMENT FOR BAL 50000.

2.IF THE VEHICLE IS SOLD BEFORE MARCH 31 CAN I CLAIM DEPRCIATION FOR THE PERIOD SEPTEMBER2013 TO MARCH 2014