Dear sir,
What is mean by share application money pending allotment how to calculate it ?

Thanking advance

hello experts
please tell me entry for prepaid expanse, interest accured and interest accured but not due in detailed manner.

Dear sir
I am confuse abour AS-15 .plz tell me how to understand AS-15.

Thanx

Dear sir
I am confuse abour AS-15 .plz tell me how to understand AS-15.

Thanx

Hello experts,
I have doubt regarding the term "supplies"
Used in as 2
what and all it includes ???
whether packing material is included???

Thanks in advance for your time and patience.

I m an Auditor for a Society which is running Educational Institutions, There is uncertainity of Incomes, as the Students wont pay their Fee as and when it is Due. Thus considering the concept of Prudence, can i suggest to Account Receipts on Cash Basis and Expenses on Accrual basis??

To get Exemption U/s.12A, entity has to apply 85% of the receipts for charitable purpose. Thus if the organisation doesn't receive real Income in cash and Accrual entry is passed for Student fee receivable, from where should it satisy the 85% condition??

Early clarification is highly appreciated. Thank you

Is fixed assets account maintained in cash system of accounting ? If yes, then the entity has purchased a fixed asset for 14,00,000 and paid only 8,00,000 for it.. will the asset be capitalized with the full amount ? and shown the rest shown as a liability.. but wont this make it accrual system then ? .. please help.. and please explain in detail ..

Dear sir,

one person has having sole proprietor firm , he purchased car and house in his individual name .But he took bank loan against this, he is remitting the installments through proprietor firm ac . where can i show the interest on loan and principal amount and can i capitalize asset in proprietor concern

kindly give us the solution of my query . it is more helpful to me

A builder plans to asset(building) of Value Rs 50 lakhs(market value).
The people residing in the building does not accept to vacate for which the builder pays Rs 20 lakhs as settlement.

How should Rs 20 lakhs be accounted for in the books? What kind of costs are they?

Can an individual assessee show his Life insurance policy in its balance sheet?
If yes, then at which value.