GUIDANCE/ WRITE UP (WITH REFERENCE TO AS11 WITH MTM) REQUESTED :
FOR JOURNAL ENTRIES IN THE
BOOKS OF BUYER FOR A FORWARD EXCHANGE CONTRACT UNDERTAKEN FOR PURCHASE
OF ITEMS. KINDLY ARRANGE TO EXPLAIN MTM THEREIN.

REGARDS

I have a query in respect to accounting entries in Tally .
1)Is there a compulsion for a company to start its voucher number from 1 from the beginning of the accounting year ?
2)Should the raising of invoice bill number also start from 1 from the beginning of the year ?
3)I need some guidance in respect to this .
Thanks in advance .

Sir
I have an query regarding AS 12. The question is---- A limited purchased plant costing 250 lakhs on 1st Jan 2008.The co. charges WDV depreciation on the asset. The asset has an estimated life of 15 years with a scrap value of 25 lakhs. The co. received govt. grant to the extent of 50% of assets cost. As per T&C of the grant 50% of the company's product are to be supplied to the govt. agencies for the 1st 5 years at a price 20% below the market price. Average market price of the product from 2008-12 are 300,320,340,360,380 respectively. Production capacity was 1 lakh unit per annum. Capacity utilization during the 1st 5 years are 50%,60%.60%,70% & 80%. How do you allocate govt. grants if the co. decides to treat the grant as defered income?

Hi,

I m Extremely Confused over the depreciation rates, Of the income tax act and the company act 1956.

when Co. Rates Act are Applicable and when incometax rates are applicable and to which entity like co., Propreitorship firms,

Dear sir
I made one entry for creating pro.for doubtful a/c

1,bad debt a/c dr 10,000/-
to
prov.for doubtful a/c 10,000/-

2,prov.for doubtful a/c 10,000/-
to
account receivable

after some time i received the above cash
i made entry like this

3,cash a/c 10,000/-
to
receivable 10,000/-

4,account receivable 10,000/-
to
prov. for doubtful 10,000/-

5,prov.for doubtful a/c 10,000/-
to
bad debt a/c 10,000/-

sir this entry which i have passed is correct or not please help me

I am Working in Manufacturing Company at Uttar Pradesh. It has a branch in Delhi. U.P Branch engages in production and transfer stock after charging Excise on goods. Delhi Branch has a Sales Unit. We are facing the problem during consolidation of accounts if closing stock still in delhi branch. Please suggest the accounting treatment of Excise charged during stock transfer on the closing stock when we consolidated the accounts of Company

Provision created as on year end for audit fees 60000,but after that Auditor raised bill of 70000 what will the accounting treatment and journal entry?Help me.

when all the entreis are contain date belongs to last year how to change all enetries at a time to current year

Pls suggest where to account Court Fees in our books of accounts paid for suit filed ag one of our client ?

scenario is.......
XYZ pvt Ltd company is holding 51% invesments in a ABC LLP.......in this situation, whether XYZ has to consolidate the books along with ABC LLP????

Need help in two situations
i. having full control
ii. not having control over ABC


Thanks
Prasanth K