I just want to know that why we transfer profit from P&L a/c to general reserve As the both are free reserve??

Dear sir,

I have a question on accounting of fixed assets. As we purchased the 10 settop boxes for our company.

Each of the settop box is Rs. 1200. The total value of the asset is Rs. 12,000.

The accountant has considered it as maintenance expenses. But I have idea it should be classified under fixed asset.

Please clarify with this accounting issue.

with regards,

R. Gurucharan.

Surcharge of 5% is applicable on the total income of a domestic company if taxable income is more than 1 crore.... but if a domestic company is loss making than the surcharge will be applicable or not 4 d calculation of deferred tax asset????

Amount paid for photographs for telephone connection under which category does these expenses will go whether it is thelephone expenses or some other expenses

VAT paid on Sales under Composite Scheme is to disclosed as Expenditure or should it be deducted from sales, as we record gross sales in our books of accounts. What should be the treatment as per Revised Schedule VI

can anyone help me how to treat below transactions

We develop tool for a company outside India. The said Tool will be the ownership of the Foreign Company. The said tool is developed by the Third party in India and we will receive payment from Foreign company and accordingly we will pay for the Tools developed by third party.Please let me know how this entry would be passed in my books because I will receiving payment and will pay to third party, there may be some exchange impact

Sir,
Our company is a small listed company listed at BSE. Now we have to modify the objects of the company.

1. Is it sufficient to put in AGM Approval
or
2. We have to conduct Postal ballot is compulsorily?

Pl. advise the procedure.

An entity(not a company) is engaged in running one Pre-nursery school and planning to open many more in future under a brand name.

For now FY13-14 they are incurring expenditure for food as meals for children and buys raw material like milk, fruits etc. Though this expense is revenue , I want to know the treatment of Kitchen crockery & cutlery and appliances like oven,juicer, stove etc, whether they are to be capitalised or not. If they are to be capitalised then what should be rate of depreciation and if they are to be amortised, then the manner and disclosure in notes on accounts



Also they have incurred hugh expense over toys ( vehicles, animals, first aid etc) for around 10 lacs, in addition to that they also bought a jumbo micky house alone costing near 4lacs, whether all these should be capitalised and what should be depreciation rate?



In FY12-13 they have incurred expenditure both revenue and capital but no commencement of business happen, whether revenue expenditure be treated as pre-operative expenditure? It should be capitalised to fixed asset or treated as Deferred revenue expenditure?



Thanks

The total cost of goods available for sale
with a company during the current year is
`12,00,000 and the total sales during the
period are `13,00,000. Gross profit margin
of the company is 33 1/3 % on cost. The
closing inventory for the current year
would be —
(A) `4,00,000
(B) `3,00,000
(C) `2,25,000
(D) `2,60,000.

How to prepare mis report for anaccounting department