will the following entry affect receipt and payment?
Audit fees A/c ...Dr 10000
To Audit fess Payable A/c 10000
is it recorded in Receipt & payment?

a sole proprietor charges depreciation as per income tax act. he exchanged his car with another car. Whether he can recognize profit in such transaction? what will be the journal entry?

Dear Sir,

Please note that my company has paid Insurance premium of Rs.10,205/- to LIC twds Accidental policy of our two marketing staff but LIC has issued Receipt in favour of staff & not company kindly guide how to Account for this transaction ??

I am a small businessman doing business since 8 years.I had not maintained accounts till last year & not filed returns.I have started maintaining A/cs this year(2012-13).I have a car purchased 4 years back for Rs.2,10,000 & motor bike purchased 2 years back for Rs.45000.Shall i take into the books at original cost or after deducting depreciation for 4 & 2 years respectively.

CRR IS CREATED AT THE TIME OF REDEMPTION OF PREF. SHARES OR BUYBACK OF EQUITY SHARES WHEN BOTH TRANSACTION ARE SETTLED IN CASH. WHAT IS ACCOUNTING PURPOSE TO CREATE THIS CRR REMINEDERING THE VIEWS LAID DOWN U/S 77A OF COMPANIES ACT 1956 & OTHER APPLICABLE PROVISION. AND AS AT THE END THIS CRR IS ADJUSTED WITH REVENUE RESERVES. SO WHAT'S THE REASON BEYOND IT?

whether Bank Charges amount included in Import Invoice will be shown as separate or will be combined as Material Purchased Charges as per AS-2 (Inventory Valuation) in Books of Account Pls Tell me..............

Sir,

We have filed Quater 3 Tds return.(94J professional fees).
Now we have notice that we have tick company deductees instead of Non compay-dedcutees..

Now how we will change this..

Regards

Parag

suppose a company trf. 50$
and we received 45$

( my bank ) doesn't charge and bank charges so my query is

1) that 5$ is bank charges charged by thier bank

2) can we book that 5$ as bank charges in our book but how means any procedure, rule , notification

because in each trf. which we are getting from overseas party ( hong kong ) they
normaly trf.

for eg.

10000$
but we received 9990$ and even that 10$ does not charged by our bank so, what kind of fees is this

expert please reply

1.Can a company become a partner in a partnership firm with same person having its director and partner?

2. Is the partnership firm in any way becomes liable for the existing or any future litigation or liability of the company.

If Head Office purchased a car & transferred it to Branch then what will be "Journal Entry" in the books of Head Office as well as branch.