sir,my result shows no record found for revaluation process and inspection process which i had applied for nov 2012 final examination putting me in dilemma indeed.please tell me are results of revaluation announced and if yes why is my result shows no record found

Hi ,

If we have inventory of Rs.100 & its market value is Rs.80 thn what would be the entry at which cost .

& what should we do with the difference of both amount (Rs. 20).

Please help,

Thanks & regards
Priyanka

Dear Sir,

Which account head medicine exp will debit?

Sir,
Kindly tell me the accounting of Furnitures & Fixtures to be used in Employees' Quarters & Company Guest Houses. Should they be capitalized or immediately written off?

Wen ever in d qts it is said dat partner A is entitled to a salary of rs. 500 pm we pass d following entry :

P/l A/c dr
To A's capital A/c

but y not this :

A's A/c dr
To Salary A/c

What is the difference between Builder and contractor as per AS7? and to whom AS 7 is applicable?

Treatment of minority interest loss in balance sheet while preparing consolidation of accounts.

Sir,
can rates higher than that mentioned in Sec 350 of the Companies Act be provided on assets. what if the management want to provide less rates?

WE PAID Rs. 150,000/- AS ADVANCE TO A VENDOR(CONTRACTOR) BUT TAX WAS NOT DEDUCTED AT THE TIME OF PAYMENT, RETURN HAS BEEN FILED FOR A.Y 2012-13. NOW WE GOT THE BILL PLEASE TELL ME WHAT IS THE TREATMENT TO BOOK THIS EXPENSE AND TDS ALSO.

Dear sir,

If a company has purchased a fixed asset as a spare to be used when the principal asset is out of order, when should the company pass the accounting entry for it i.e. debitting the asset a/c & crediting the vendor A/c ?
also tell me that when does the FAR would be updated?