Hello 2 all

I have a query regarding accounting entry???

Suppose Mr. A Receive commission from Mr. B( is a Builder)and also purchase flat from him.

So, What will be the journal entry of that transaction.

1. Either net of commission in P/L A/c
Or
2. Commission showed as a Separate Income in P/L A/c.

Thanks

Revaluation of Fixed Assets
a) Fixed Assets debit & Capital Reserve credit.

b) Subsequent years: Depreciation debit & Capital Reserve credit to respective Fixed Asset. (AS 28).
Would there be any tax liability?

can anyone help on this calculation of depreciation as per the new companies act 2013

regards

pankaj

We paid self assesement Income tax for year
2013-14 , In oct 2014 . now how can make
paid tax entry in current year we completed
2013-14 audit. our firm is partnership we have
not made any tax provision in 2013-14 please
explain deeply

what are the duties and responsibilities of an accountant working in a manufacturing company and what should he maintain the books?

An entity is following the policy of deducting penalty if the delivery of the said goods is not received within stipulated time period.

Now should this be reduced from the cost of the asset or be treated as an indirect income?

Is it wise to first rewrite data of all Companies using Ctrl + Alt + R & ONLY AFTER THIS IS DONE , migrate the rewritten Data to Tally .ERP 9 from Tally 7.2 or should this be done ONLY if an Error gets displayed during the Normal Migration process ?

1.What will be journal entry if we can purchase the material on credit from X party of Rs 1000 + Excise duty 12.36% + VAT 5%

2.What will be journal entry if we can sale the material to Y party on credit of Rs 2000 + Excise duty 12.36% + VAT 5%

Waiting for feedback

Dear Sir/Madam,

In Last financial year i.e for 2013-14, my client has used the old depreciation rates and complied with the rates as prescribe in Companies Act.

But in current year i.e F.Y 14-15, they are not compiled with new rates as per Companies Act,2013.
Depreciation is charged as per old rates only i.e on SLM basis till September 2014.
System used by them is unable to give retrospective effect.

So how to find the correct depreciation?
And what would be the accounting treatment for the same?

Whether IFRS is applicable for CA-Final November 2015 Exam??
Please reply as soon as possible!!