Hi Experts,
We are running our real estate business of selling commercial shops. We are an authorized agent between buyer and seller and it was also mention in sale deed that we collect whole sale consideration on behalf of seller and reimburse them to seller on sale.
We collect whole amount of sale consideration from buyer say(Rs850000/-) and paid to seller (say Rs 700000) and earn Rs 150000 as income. So whether we should consider it normal sale/purchase or consider an commission income. Also suggest me appropriate accounting income.

Rent deposit 10 and rent for the month is 2 payment is for Mr.X...can you tell me the journal entry?

Is any other kind of free reserves except profit and loss account and General reserve??

i have to file return of an individual, he is engaged in trading of shares (Sales-1234500/-) u/s 44AD. I have holding statement of shares, it is known that closing shares are valued on market price. so plz tell me in balance sheet on which value the shares should be valued on cost basis or market value whichever is lower or on cost basis alone.

Respected experts

A company wants to convert into LLP.
I need some idea for its accounting:
1. Share capital will be converted into partner's capital
2. Reserves??
3. Is it necessary to record the assets at their book values??

Is there any Accounting standard applicable?

I joined C.A under direct entry scheme and my attempt is in NOv14. I completes coaching n now im planning to take course but confused b/w m.com,cfe,cpa n cia.. wich course would be beneficial?

IF A CREDITORS RAISE A BILL TO A PERSON AND THE OTHER PERSON PAID ON BEHALF OF THAT PERSON IN "CASH". IS IT RIGHT TO SHOW IN ACCOUNTS OR NOT?

Hello Experts A client of ours shifted his factory from a location to another wjthin the same state. It incurred heavy shifting expenses. Also, all the machinery were dismantled from existing place and reinstalled at new place. My ques is whether these Shifting, Dismantling and Reinstallation expenses for machinery will be capitalised or not. Kindly refer to a case or section with your valuable opinions. Thanks in advance. Rohit

SIR PLEASE TELL ME THE ENTRY FOR
1.GOODS RECEIVED FROM H.O
2.CASH RECEIVED FROM H.O.
3.STOCK RECEIVED FROM H.O.
4.FIXED ASSETS RECV FRM H.O.

THANKS IN ADVANCE

do I have to take any registration for opening warehouse business......I have taken few godowns on lease and want to give it on rent...is there any regulation in income tax ......