Dear Sir,

there is on Fixed asset showing in the companies balance sheet of F/Y 2011-12, which has been sold in current financial year . i want to know that should i provide depriciation under companies act on that asset till the date it was sold or not to calculate the actual profit/loss on the sale of that asset.

Thanks

suppose ram has sold goods to sham on credit or rs 50000 and it is the term of agreement. if sham pays within 20 days of this purchase,he can receive 10% discount.If sham pays within 2 days then treat cash discount in day book of both parties.

Plz give journal entries for both the parties..?

profit is earned if

asset exceed expenditure
income exceeds expenditure
cash inflow exceeds csah outflow
income exceeds liability

to arrive the gross profit of a trading business, which of the following formula i applied?

sales-(os-purchase-closing stock)
sales-(Os+puch+cs)
sales-(op+purc-cs)
sales-(os-purch+cs)

Dear Experts

We purchased a machine and lease out for one year or may be more to our customer on rent.

But I am confusing to decide whether it is our Fixed Assets or Inventory Item. Because when lease period overed we will try to sell the items to some other customer.

Could you clarify me on the matter.

Thanks
Bhoop Singh

Hi Experts,

purchase order includes VAT 4%,CST 2%.
PO QTY:10 PRICE:10

What is the entry for this?


thanks
sadasiva

chapter - amalgamation
If account balances are given in the balance sheet of both the companies on liability side , then what is the treatment of account balances in books of old and new company

how to make cash n bank voucher pls provide me detail informaton regarding it n also i want to know what should be the maximum amount limit of cash voucher?

Hello sir,

What is the maximum amount that we can pay by Cash voucher and what is the consequences if i pay more than that maximum amount. In my organisation my boss paid 75000/- on a single voucher.

1.Accounts which is decreased with a debit?

receivable,depreciation expense,sales,equipment

2.old equipment and received $7600 in cash.the book value of the equipment was 7000.journal entry..?