Dear Ones,

Please clarify me on the above subject with examples. You may please mark a copy to my personal email id chandrasekharmc@gmail.com.

Thanks & Regards

M.Chandrasekharan

Hi

I have a query regarding the Defered Tax calculation in case of business loss as per books of accounts and also business loss as per income tax.Also if there was DTL available (for the Previous years) can i reverse DTL.

Dear sir
can any one help me. My problem is our company has decided to make 5% provision for bad debts on debtors. So what will be the entry. I think
Bad debt (ind.exp in Tally) Dr 25000
To prov. For bad debts (s.debtors in Tally) Cr 25000
Then later if we have identify the bad debt amount only 15000. Then the entry
Prov.for bad debt Dr 15000
To Bad debts Cr 15000.
Is it correct? If not please rectify my two entry's.
It is an urgent request. Thanks in advance.

This doubt is in reference with Amalgamation and Treatment of Reserves, specifically while calculating purchase consideration pooling of interest method.

Issue:

When two companies amalgamate and we follow 'Pooling Interest Method', the difference between the amt recorded as share capital issued (by transferee)and share capital of transferor company is adjusted against the reserves available.

Doubt:

> What if the reserves are too less to adjust the difference amount?
> In which account head we should show 'Negative Reserve' (since we can't create 'Goodwill' under pooling of interest method)

Thanks.
-Shagun Borgaonkar

Where do we show the following in balance sheet as per revised schedule VI.

"encashment of employees earned leave encashment payable on retirement"


My viewpoint:
'employees earned leave encashment payable on retirement' will be shown in long term provisions under non current liabilities.

But as the word "encashment of" is prefixed before the above, it should not be shown in the balance sheet.

This question is from CBSE examination 2013, set 3.

I have a doubt in calculation of efficiency. Pls review the following problem and help me to understand.

Standard output in 12 hrs 48
Actual output in 12 hrs 42
Time rate Rs 7.50 per hour

Efficiency in terms of output
=actual output/standard outputx100
=42/48x100
=87.5%

Bonus percentage at 87% efficiency is 7.56 and 88% 8.32.

How they determined the efficiency is 7.56 and 8.32?

hi,
kindly advice me to distribute gross salary of rs 15000/- in different head like.
basic salary ------
HRA -------
DA --------
MEDICAL ALLOWANCE--------
EDU ALLOWANCE --------
CONVEYANCE ---------
PROVIDENT FUND ----------
----------------------------
GROSS SALARY 15000/-
DEDUCTION--
PF ------
ESIC ------
PROF TAX -------
----------------------------
NET SALARY ========

Dear All,
A private ltd. co. has been scrutinized by AO
for the year 10-11 and disallowed advertisement exp Rs. 5 lacs due to not making the provision of TDS. and now in march 13 the tax on such disallowed expense has been paid this year.
now , how to make the accounting entries in this year? please give the full accounting entries.
whether that expenditure will be considered as prior period items?

Respected Sir,

Purchase of critical spares is kept as stand by spares. can it be capitalized, if so at what point of time it should be capitalized, whether at the time of purchase or that spares put in to use.

Pls provide me with Accounting Standard reference.

Kindly do the needful.

In my office I do all accounts on cash basis i.e. all payments of Dec to be paid at Jan and I make entry in Jan. But now I was told that all expenses for the month of Dec to be taken in Dec as Outstanding and then it is provided in Jan. So according to office Rent for Dec to be accounted for like:

Dec
Rent A/c...............Dr
To Outstanding Rent A/c

Jan
Outstanding Rent A/c
To Bank

I told office that I'd make this provisional entry in March. Then I was told to be confirmed whether taking all outstanding provisions in March only is correct process or not. So Please advise whether my accounting process is correct or wrong? Should I make all outstanding provision every month or only March is enough?