Please resolve my querry.

On the receipt of Insurance claim of vehicle, what to do with this transaction in accounts.

Its capital receipt or revenue?

please inform me on urgent basis.

Dear sir

I purchase one land for rs.100,000/- (loan)and it’s processing fees 5,000 and in the bank statement i saw rs.50,000/- interet capitalized and another interest 10,000/- not capitalized what is the value of assets.which amount i have to book as assets

thanks

Suppose through bank amount has been paid to one of the employee using NEFT facility Rs.2000/- but bank has paid wrongly Rs.2500/- After communication with bank for the same bank has agreed its mistake and pass reverse entry of Rs.500/-

Entry made by comapny,

Party A/c 2000/- Dr
bank A/c 2000/- Cr

But under which a/c head remaning Rs.500/- entry should be processed. Wheter as bank charges or penalty which afterwords may be reversed with narration.
Plz help on this .

Dear all,

A company has purchased machinery costing Rs. 1,00,000 and eligible for weighted deduction of 125% for Income Tax Purpose. whereas in books of company they charge depreciation S.L.M basis and life of machinery is 4 years.

What will be accounting treatment in the books of the company as per AS 22 (DTA/DTL)?

Can anyone explain me how to account a prior period project cost for Example Drawing, Quantity Surveying, quoting exp.... and related Labour cost of the Designing Engineer and Quantity Surveyor. Are these expenses are project related cost? Or Marketing cost?

Hello All,

Pl help me out in following query.
We have one foreign bank account. nw from india we transferred $1000 to foreign bank, rate for that day was 53. we did accounting in rupees and balance sheet reflects amount of Rs. 53000 in foreign bank account. Now we spent $1000 for some expenses, rate for that day is Rs. 55. now in rupees the Foreign bank showing negative balance of Rs. 2000. Pl note that this is not on account of fluctuation. is there any mistake. what is the solution.

Pl guide..

Sir

can we capitalise pre operating expenses like consultant fee, loan processing charges, salary for the labour during the pre operating phase of a new project which is extension of our current business line.

i want any file or article which will have all the major jornal entries which will help me in finalisation

i want to ask if my clients tds is deducted under section 194d insurance commision and is displayed in 26as is there any need to make entry in 26 as while doing accounting wat will be the entry

One company sold goods to its parent company on dollar terms.But as per the management there is no need to reinstate the debtors on B/S date because the parent company will only pay the amount(in Rs.) which was due on the date of transaction.Is this practice correct??