I am in a partnership firm where there are 2 partners whose profit sharing ratio is equally between both.
My question is how do i calculate the interest on the partners capital ??

Amount Paid for booking an flat in an under construction phase should be shown under which head in balance sheet

Sir/madam,

My question is

Bought a vehicle for Rs 60000
Down Payment made to the vendor : 20000
Loan disbursed : 40000


what shall be the entry for the above

Where do we show the following in balance sheet as per revised schedule VI.

"encashment of employees earned leave encashment payable on retirement"


My viewpoint:
'employees earned leave encashment payable on retirement' will be shown in long term provisions under non current liabilities.

But as the word "encashment of" is prefixed before the above, it should not be shown in the balance sheet.

This question is from CBSE examination 2013, set 3.

how to account cash credit it like loan

is revise schedule 6 applicable in questions of branch accounting?????

my question is that when every item in P&L a/c is transferd from ledger but when we show closing stock inside the trail balnce than what is the logic behind this as closing stock doesn't have any ledger balnce ?

Hello,
A pvt limited company was formed in july 2012 and its bank account was only opened in march 2013.
In this mean time, all the preoperative expenses was paid by the promotore shareholder/director from his savings account.
The company has still not gone into operations.
What should be the journal entries for this?

Resp sir,

whether vat plus excise amount should be included in Gross sale as per revised schedule six, because no specifically mention ed it in Revised schedule six

pls suggest me how to pass security receved entry in tally.Amt-22000/-,3months security,ome month rent.inwhich voucher it will be pass.