If I sell the shares of abc co ltd on 28/3/2013 and my broker is xyz and I received Money On 2/4/2013 . So Which account head should be debited .. whether xyz or abc or investment Receivable and what would be the Group Heading ..in Final Accounts like Investments or Current Assets ???

Which account head should be debited in the case where the sale of shares is made before the end of financial year but the amount is recovered after the end of the financial year ??
I think the account head credited would be investments but which account head would be debited ??

Dear Sir,

in our company book is running 3 shift for Depreciation and we count the 3 shift Depreciation.

in current year we purchased and installed new machinery, now can i count single shift Depreciation in new machinery ?

any quarry or object, please guide

can anybody pls say what sort of qstn is asked more in exam, from d liquidation chapter....either liquidator's statement of a/c or statement of affairs????

Dear Sir,

As per company policy any leave balance eligible for encashment is paid to the employee based on the basic pay (Basic component of CTC).

However for Actuarial Valuation per AS15 we are supposed to value at Gross salary.

Query

If the company carries the provision at gross and pays at the basic rate the provision will always be more. Legally is it ok to do that way. Are we supposed to pay the employees also based on Gross Salary ?

Ex:

Employee A has 10 Days leave to his credit for encashment.
His basic pay is INR 100
His Gross pay is INR 150

Per books the provison we make is for 1500 but if he leaves we pay INR 1000 leaving 500 still in provision.

Is the company supposed to pay INR 1500?

Please provide Finanacial accounting note for icwai inter

hi

i want to know about an expense.

water tanker purchased for factory workings should go under which head??

Can it be grouped under Factory expenses??

pls guide.

There is one vendor XYZ for our company who has been engaged for interior decoration. The total estimated cost of renovation comes to Rs. 2lakh. The payments were being given as Rs. 50000 as n when part of work was finished (with TDS deduction). My question here is at time of last n final payment to vendor do we need to show deduction of Tds against the booking of bill. Im getting confused a little. Kindly help with an entry

I have 100 Units of Mutual Funds costing Rs. 150000/- as on 15.12.11 and after that I have received bonus units 50 on 18.03.12. I sold 80 units on 28.03.12. What cost I should take for Accounting purpose.

For tax it should be on FIFO basis and cost shall be Rs. 120000/- (Rs. 1500 x 80) but for Accounting purpose as per AS-13 it should be Rs. 80000/-.

Whether Rs. 80000/- or Rs. 120000/- please advise.

what do u mean by prepaid expenses and what's the entry in case of sales return ?