Ms. xyz pvt ltd is carries on business of trading.
They import goods from Australia and USA.
They make 100% advance payment
According to me the co is to record the transaction of payment considering the exchange rate as on that day
Later it should record the purchase transaction on the date of Bill of Entry.

The exchane gain/loss will be the difference in exchange rate s on date of payment and bill of entry .
Let me know if this is correct.
If not refer to any othe method.

Hi, we have spent 2lakhs on tiles, wallpapers, paint and other renovation expenses for our office premises. we are paying 60000pm as rent for the office. I would like to know whether this expenditure for renovating would be capitalized, why or why not? and if yes then how?

Can we amortised the value of stampduty on leasehold land capitalised on provisional basis.

if in the previous year it is capital on provisional basis & in the current it is paid less than the provisional amount. And also if we had charged amortization on the stamp duty (Provisional) in the p.y. then how take its effect in the books of account.

what is the difference between face value and offer price?

Respected Sir
Im Supratim Ghosh from kolkata
I want to know the journal entry of following
Q.1)Sold good for cash and paid into S.B.I Rs 1000.
Q.2)Drew for office cash from U.B.I Rs 3600.
Q.3)Transfered from U.B.I to S.B.I Rs 500.
Q.4) U.B.I allowed interest Rs 120.
Q.5) S.B.I charged interest Rs 80.
Pl sir ans my questuion and say the reason,as soon as possible.
Regards Supratim Ghosh

Please tell me which date is i can fill the form of ca in befor date of december exam,
Must tell me

Hi All

while Filing Income Tax Return Assessee Enters 2 Different Figures In P & L account and in Balance Sheet in Some Cases he is Not Brought Closing Stock in P & L but in Balance Sheet he Shows. where he Adjust and As per AS- how WIP he will Show.

Please explain the Possibilities

Thanks in Advance

Sir;
I am preparing projected balance sheet for three years with the help of CMA data. My production should be start from 1st june'13. i want to know that material consumption & monthly expenses should be calculate for 10 month or 12 month.

Dear Sir / Madam

Can any one please help me in knowing different accounting entries related to Cenvat Accounting under different situations.

Thanks

Mansi

Dear sir its very urgent.
I have join a small firm. The firm hasn't keep the books of accounts. So I had prepared the chart of accounts. Now I have a doubt. How to account the Fixed assets. There are number of Fixed assets like Furniture, computers, Fixtures and so on. assets are purchased on different months and different years, some of them have no purchase bills.
So how can I prepare the fixed assets ledger and old depreciation.
OR
Depreciation start with current year accounts with original cost (Purchase price)
Thanks in advance.