IF PROVISION TO REPAIR IS GIVEN ON THE CREDIT SIDE OF TRIAL BALANCE AS RS,6000/-AND IN THE ADJUSTMENT IT IS GIVEN PROVISION FOR REPAIR WILL BE RS.1500 PER YEAR. ON THE DEBIT SIDE OF TRIAL BALANCE REPAIR CHARGES TO MACHINERY OF RS.2000 IS GIVEN.WHAT ACCOUNTING TREATMENT WILL BE GIVEN WHILE CALCULATING FINAL ACCOUNTS.



KINDLY HELP ME IN RESOLVING MY QUERIES.

We bought a machine in another country for R15 000 through our financial institution (Bank) , but when the machine was finally delivered the amount was now R10 000.00 . What is the proper accounting treatment of the difference of R5 000?

We are the government institution not involved in the foreign exchange trading .

what is the difference between prepaid expense and advance.

Mr A Hold 50% share in A Ltd, Mr B (Brother of Mr A) is KMP in B Ltd.

Whether B Ltd is Related Party for Reporting Entity M/s A Ltd?

Dear Members,
We have a unlisted public company and also have some partnership firms and other companies having same directors as parter or director.
Now my question is that we have to prepare accounts including all associates books or else?

Dear Experts,

How to book Expenses relating to get trade mark registration for a pvt ltd company. we paid 55000/- to a consultant it includes
fee for 5 applications @ 7500 total 37500/-
and professional fees to consultant 17500
total is 55000/-.

then how to book these expenses in company books of accounts.

Thanks In Advance.
Narendra Kumar M
9949952188.

Dear Experts,

We are a dealer of Excisable product, during purchase & sales, we post respective ledger like Basic Excise 12% (Purchase) & Basic Excise 12% (Sales)separately.

We are making Quaterly return, at the end of each quater we have to transfer the balance of above ledger to a single neutral ledger account.

Please tell me what will be the name of that ledger account & under which group i will take it.

Regd,

In the process of financial restructuring of a chronically sick central public sector Enterprises ,Govt of India waived its accumulated loan and interest.As a result the company earned net profit arising liability for payment of current tax.However due to its precarious fund condition,Govt. of India also provided it with fund assistance under Grant-in-Aid for payment of such Income Tax Liability.

In the stated circumstances,I am rather confused about the accounting treatment of such Grant- In -Aid,if it should be treated as capital Receipts in conformity with para 10 of AS-12.or it should be treated as Revenue Receipts in governance with para-18 of the said AS.
Awaiting Suitable response from the Experts in this regard.

Regards

Snehanshu Kar Chaudhuri

I dont know what entry needs to be passed in the books of employee for "Employer's Contribution to PF"

Also Entry for Interest on PF Contribution

if a company has done export sales and suppose it has billed 1000 usd @ 59 and received 950 usd @ 60. then at which usd we should apply the foreign exchange rate difference i.e. 1 ( 60-59). for the purpose of calculating foreign exchange fluctuation gain.kindly reply.