What is the nature of suspense A/c and B.R .

we have received debit note from our supplier how entry in tally.

what is debit note

Hi Friends,

We have client which was incorporated in F.Y 2012-13, during the financial there was no Income at all, only Expenses of Rs.99500(roughly) was incurred saying that Pre Incorporation and, Pre Operative Expenses and which Also includes Rs.500 Dep. on Fixed Assets. Now My query is whether I should Prepare P&L Statement or Not, stating That above Expenses. But as per my openion these should be Shown under Non Current Assets As a Miscellaneous Exp. to the extent not written off. But in recent past we have received a notice from IT Department stating that the Assessee has not disclosed the P&L Amounts in Return of Income.how it is Possible to amortize Preoperative Expenses without having Income in P&L A/c. Pls suggest me how to handle this Problem.

A trust received some fixed assets to trust but trust unable to shown in the receipt and payment account they are now directly show b/s balance sheet not tallied.if it taken to b/s how a to adjust liabilities side anybody please guide me

I am on articleship right now and I want to take knowledge of Companies act 2013 so is it right time to read companies act or I should wait for sometime. plz suggest me

Will anyone confirm that for calculation of Accounts receivable turnover times per year
and Accounts receivable turnover in Days
should we consider other account receivable along with trade receivable?
I think I should take only trade receivable.
Thanks in advance.

Accumulated Depreciation meaning in simple word ( 3 line answer )

definition of fictitious assets

dear sir
if we spent any expenses related to asset,like building etc...this is the improvement it will come under assets.
2.the money we invested for improvements For the owner building added to capital or not.
i mean i need to pass the corresponding entry to capital in cash first for this improvements please suggest me regarding with detailed