Dear Sir,

Kindly let me know how much % or amount transfer to Reserve & Surplus out of Profit & loss Account
thanx

Dear Sir,

Kindly let me know how much % or amount transfer to Reserve & Surplus out of Profit & loss Account
thanx

My company has received some grant which is of revenue nature.
I want to show it as a deduction in P & L A/c in reporting the related expense.
But my expense is less then grant amount, say my expense is 100 but my grant is 120. So can i show in P&L A/c on expense side as
Expense 100
Grant -120
Net Expense -20
Is it possible to show on expense side the grant figure as negative.

whether it is mandatory in revised schedule vi to mention the no. of shares issued, premium etc. under share application money pending allotment

Dear Sir,

Pl.let me know the diff.between REvised Schedule VI and Past one.

Dear Friends,

Please let me know the main points to be covered while doing Inventory Reconciliation and Inventory Audit?

D question s
Consider the following data pertaining to R ltd. for the month of June 2011

Opening stock - 30,000
Closing stock - 40,000
Purchases - 5,60,000
Return outwards - 15,000
Return inward - 20,000
Carriage inward - 5,000

If the gross profit is 20% of net sales , the gross sales for the month of June 2011 is what........????/

Ist approach :
Opening stock + purchases + carriage inward - return outward - closing stock = 5,40,000.....which I considered it as 80% of sales.....den for 100% we should calculate it as 5,40,000/.8 = 6,75,000.....!!!! Then with this amt add the net sales , then we get 6,95,000 as
gross sales ......!!!!

IInd approach :

Opening stock + purchases +
carriage inward - return outward - closing stock = 5,40,000...then nw less less 20% from return inward....so tat we can get the cost of goods returned .......!!!! So add this to 5,40,000 i.e 5,40,000+16,000=5,56,000......!!!! Then nw 5,56,000/.8 = 6,95,000.....!!!!!

Nw plzzz suggest me which one is right approach .......?????

I Have Invoice Of A Contractor Of Rs. 1,00,000.00. In The Invoice Labour Is 56,000.00 & Raw Material Use By The Contractor Is 44,000.00.

Should I Deduct Tds On Total Amount Or It Will be Deducted On 56,000.00 ?

Please Give Me reply.

Machinery Rs.7500 is given an employee on 9th july 2011 but it was not recorded.However this much amount deducted from the salary.In Balancesheet sheet machinery is showing-Opening balancesheet on 31-3-11 rs.4,00,000
and balancesheet on 31-3-12 rs.7,00,000.pls reply me the adjustment entry.pls..

I am working as an accountant for Proprietorship Firm, My Question is which expense of Proprietor can b claimed as expense & which needs to treated as Drawings?
any link or website or accounting notes on proprietorship will Do?

Tnx in Adv