can we pass journal entry of profit from partnership Firm,
Partnership Firm Name A/c Dr.
Partnership Firm Expenses A/c Dr
To Profit/Loss from Firms/LLP

Or
Partnership Firm Name A/c Dr.
To Profit /Loss From Firms LLP

For under construction Building cost incurred for ATT Reticulation systems.
whether should be capitalised.

what is retention money and what will be the journal entry in the books of service receiver .
Retention money is 5% of total cost of project.
How to make journal entry of retention money held

Sir we have a English medium school having affiliation upto class 8th English medium.

1.The school is registered under trust and trust is having it's pan and bank account. We wanted to buy a school vehicle so do we need to create a bank account for school separately or it can be bought through trust's bank account?

2. And if we want to open bank account on the name of school so what are the documents required?

For any advance received , is income taxable.
and for the advance received whether invoice can be issued.

In India Buy 2000 EURO For Rs. and expenses incurred for Tour and travelling 1730 and 270 return to money exchanger my question is that how to make Journal entry of both payment and sale and whether whether foreign exchange Flu cation required in the case of individual not going for official Visit.

In India buy Foreign Currency EURO 2000 and paid Rs. 182154
My question is that how to make journal entry of EURO Buying in Books

Dear and madam
TDS 31 March 23 adjustment enter
And GSt 31 March adjustment enter in tally

Dear sirs
Seek your guidance on accounting of expenditure spent for fabrication, hardware and plywood and glass for recording studio which is more than one lakh all together in a society.

Should we capitalise this expenditure where it includes small small amounts for nails, fevicol, fabrication steel, labour charges. After capitalising what could be the rate of depreciation.

Seek your kind suggestion.

Hi,

can we depreciate spare assets?

Thank you
pervez