When a firm dissolve during the year than how to charge depreciation till dissolution and after dissolution.

Sir,

Please guide me below query
I have paid damages & interest against delayed payment of differential EPF administration charges.
Which account debited to above expenses shall i debit the Fees, Rates and Taxes or damges & Interest account

Thanks & Regards

Hi,
My client is holding Some pounds as petty cash, which they have received from Parent company on inception. These pounds are used for giving to employees travelling to UK and once they are back they refund the same to Finance Team. There are no transactions of purchase sale by using this cash.

Query : DO they need to revalue the Pound cash balance as on BS date?

Assessee had purchased Land of Rs 5 lacs last financial year which is shown in the Balance Sheet as Land. During current financial year, assessee has started constructing building on that Land which is still WIP. My query is as below:
1) Will Land continue to be remained in the books as it as?
2) Will all the construction related expenses be capitalized and shown under which head in the balance sheet?

Thanks in advance

Hello,

I will be moving to a foreign country on work permit in a few days.
I need to know what steps should I take regarding my Bank Accounts /FDs which I operate in India as I will become an NRI.
I have FDs which will mature in 3 years in my different bank accounts.
Do I need to break my FDs and transfer all my savings money into a single account and the convert it to NRO account Or can I wait till the FDs mature and then close/convert the bank accounts to NRO?

Dear Sir,
We are manufacturer of Pharma products, we want to work for a Loan Licensee (having a self brand name), I want to know the procedure of work/ Accounting/ billing for loan licensee means how to purchase of Raw Materials & How to sale of finished goods and what's necessary records to be maintain for loan license? Please explain. Thank in Advance. IKRAMUDDIN SAIFI

we install a ppgi coated coil sheet for shade on roof for fire safety can we booked it in capitalized or under repair & maint. cost is 1 lakh approx?

What will be the journal entries of the following transactions of a college?
1. Capital Expenditure incurred from earmarked/designated fund.
2. Revenue expenditure incurred from earmarked/designated fund.

The company is preparing a set of unaudited financial statements for the striking-off company. The bank balance funds have been transferred to the shareholder company. What's the correct entry to be posted?

DR: Other equity or Retained Result
CR: Bank

Salary employee getting fixed salary every month ( HRA and other allowances inclusive) On this case how employee avail the benefit of HRA exemption under Section 10 (13A) of the Income-tax act,1961 with old regime. For residing actual he is paying rent to landlord and also have rent aggrement.