how do we do entry for the cheque which was issue in one finacial year and cleared in next finacial year .
like a telephone bill amount rs 2500 amount cheque issued on 28.3.2013. but the amount cleared from bank on 2.4.2013. what is entry of this expenses? plz advice
for dscr net profit for the year should be used,,,or cash accrual to be used which includes cumulative profit in bal sheet
Consider the situation
1 ) Purchase order for 2 Motor Pumps 12/11/2011
1.5 Yen/ Re.
2 ) Supplier Acknowledged...Invoice Date 26/12/2011 20000 Yen at 10000 each...1.7/ Re.
3 ) Despatch Date 27/12/2011 1.85 Yen/ Re.
4 ) First Payment Date 27/02/2011...paid 10000 Yen at 2 Yen/ Re...price of once pump...both of them still in transit...
5 ) Customs and VAT clearance 26/06/2011...2.25 Yen/ Re.
6 ) Reached Factory 30/06/2011....2.5 Yen/ Re.
When should I capitalise the asset and at what values ?
I have done this.....
1 ) Capitalise both the assets on the date it reached the factory...
2 ) Value of the pump for which the price is paid before it reaches the factory is value at cash value...that is the amount paid..
3 ) Value of the second pump for which the price is still payable is valued using the exchange rate on the date it reached the factory....
A company has raised 'Advance against Share Capital'. What is the correct treatment of this account for the purpose of calculating earnings per share.
Please give some reasons for the answer.
DEAR sir i want to know about the book "only this much".. is it helpfull for cs executive suggest any other book for cs executive`
Dear Sir,
We are planning to convert Proprietorship Export company to Partnership Export company and we contacted our lawyer and he said yes it's possible as you said in one of the query's answer.
My question is
RC No./GST No./IE Code will remain same? or we have to apply again for new one.
What about the bank a/c's?
Appreciate your immediate reply.
Sir,
It is my simple and long back doubt.Why we are using Profit and Loss account instead of Profit or Loss account.I thing second one is more appropriate.Kindly consider my query .I am expecting a reply soon.
A Company received insurance proceeds for fire accident. Whether it is an extraordinary item? If not, How to treat the same in Cash Flow Statement?
if I am paying 100000 for self assessment tax for financial year 2011.12 in assessment year 2012.13 whether this self assessment is treated as current asset in fy 2012.13
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Marginal costing