Dear experts,
Ours is a Unlisted Private limited company. We used import materials from outside India on credit.When we import the exchange rate of dollar will different when compared with dollar rate on payment date. How to account for such different rates. Can anyone clarify my doubt in detail & how to treat it in books of accounts.
Thanks in advance.

Hi

It is newly formed company.

Purchases 10 units of computer for 100,000 and sold 9 units for 112,500.
What is the entry for closing stock.

Thanks

dear experts,
can we adjust balances existing among sister concern companies under same management.
For example
1)company "B" having debit balance of Rs.50000/- in Company "A" books and
2)Company "B" having credit balance of Rs.10000/- in Company "C" books.
3)Company "C" having credit balance in Company "A" books.
All companies are under same management.
Can we set off their credit balances against debit balance.

what work has to be done while preparing project can anyone plz explain.in short what is project?

Can i have the balance sheet of limited company with notes to the account and details in excel or pdf as per revised schedule VI to the companies act, 1956?

I release a bill 50000 to xyz on date 09-10-10 including service tax(10.3) but I have receive 35000/- only. how much tax i will have to pay authority. my responsibility would be on 50000/- or 35000/-

SITUATION -1

we gave a Rs.10 Lakhs to Sub-contractor for Mob.Adv. entry for the same is

Mob.Advance A/C Dr 10,00,000/-
To TDS A/C 20,000/-
To Bank 9,80,000/-

SITUATION -2
They Submitted Bill for 2 lakhs and we have to deduct 10% of bill value as Mob.adv. recovery
Expenses A/C Dr 200000
To TDS A/C Dr 3600 (180000*2%)
To Mob.Adv A/C Dr 20000
To Bank 176400

Whether the Entry is Correct

Sir,
I want to purchase US$ 500 in cash for authorised Foreign Exchange dealer for my company sales persons & directors foreing trip and I have no account with the foreign exchange dealer, so they are not trust on me or my company, how I adjust excess amount in my accounts books. If I am not able to spend more than 20,000.

I AM DOING SERVICE AS AN ACCOUNTANT IN A ONE FAMILY. & THEY GIVE ME SALARIES FROM FAMILY MEMBERS A/C. SEVEN A/CS MEANS A I GET SEVEN CHEQUES EVERY MONTH AS A SALARY.
I WOULD LIKE TO KNOW ANY PROBLEM ARISING WHEN I FILE INCOME TAX RETURN ?

what is deferred tax liability/asset ? how the accounting takes place with some illustrations ??