What is the Accounting entry for Inward transport on which we are paying service Tax and the same we are taking credit.

1. Is it necessory for a partnership firm of turnover above 10 crore to present final accounts as per revised schedule VI?

2. IF yes than is it necessory to firm to provide comparative figures of current year with previous year?

Please assist me as soon as possible

The partners of a partnership firm decided incorporated a Pvt Ltd Co, without conversion. Now after discontinuing the partnership they want to introduce the existing assets of the firm in the company without any consideration. How to incorporate the same?

I am a partnership firm. I have taken 1 crore loan from bajaj finance and bajaj finance has given me 94 lacs. It has cut 6 lacs as insurance money on the ground that if in case anything happens to the loan taker, the descendants do not have to pay the balance loan. my question is what shall be the treatment of rs. 6 lacs in accounting and taxation part.

Dear Sir,

I am working in a proprietoryship firm, i want to know whether unsecured loans in the books can be transfered to capital a/c?

As far as i am thinking, if we decide that the liablity of unsecured loans would be born by the proprietor, and thus proprietor would introduce the capital in the books of proprietoryship firm, how correct i am ? and is there any tax and accounting implication that i may be ignoring? please experts reply quickly

We have a company in which production has not been started yet.where we should include the creditors for cement,bricks,creditors for making the foundation for machinery etc. according to sch vi(R)?whether it should be included in trade payable or in other creditors??

what is the difference between travelling expences and transportation expences?

HI,

can anybody let me know, what entry should be passed for discarding of assets with details????

Dear Sir

Please all detail Debit note & Credit note

is it necessary to record foreign exchange fluctuation difference if payment for the entire purchase transaction is made in advance before the goods are actually recieved and recorded in accounts.