Sir
If a company making retail sale like ( Sweet / Restaurent ) Sale and accepting cash as well as credit card also,THAN IN CASE OF CREDIT CARD SALE WHICH ENTRY WILL PASS IN BOOKS OF A/C & WHEN THE SALE TAX OF THE SAME TRANSACTION WILL DEPOSITE.


Thanks & Rgds

Mukesh Kumar

purchase goods on credit from monu with vat5% ki entry kya hogi aur yeh kis mode me jayegi

sir,
my attempt is in may 2012.i am giving exam after 5 years. i do not know much about applicability of ifrs in our paper 1.which type of use of ifrs ,will ask in exam. pls help.
mukesh goyal

Dear Sir,

We sold Product A - 1500 Kgs (USD90000) of Rs.40,72,000/- out of that 400Kgs Product - A has been returned by the Party .

My Query is what is entry of Sales return at what amount?

Thanks in advance........

RESPECTED SIR,
I WANT TO KNOW HOW TO MAKE GRATUITY ENTRIES IN MY ACCOUNT BOOKS.
PLS PROVIDE ME ACCOUTING ENTRIES OF GRATUITY

Hi,

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Dear Sir,

I Shaik Asif, working as a Assistant Manager Finance and Admin in International Beverage and Filling Industries, Sharjah, UAE.

Our company is producing Juices and Carbonated drinks and selling through 30 salesmen and also exporting to various companies. Our company marketing policy is if any customer orders 10 cases (24 juice 250 ml bottles) then one case will be given as free of cost(FOC) to that customer.

That FOC sale will be recording as Promotional and Marketing expenses in our records (only cost price of FOC).

Is the above accounting treatment correct. If not please provide me the correct treatment with reference to any Accounting standard or any Generally Accepted accounting principles.

Dear sir,

our Company is started Collecting Advances from Customers (Advertorial & Book sales). but the book is not yet started publishing, currently we are issuing Proforma Invoices for Advance Receipt. But Our clients is not Accepting the Proforma Invoices and demanding the Tax Invoice only in that Case Please suggest me the procedure for Recognizing the revenue or not by issuing the Tax invoice is it correct to issue tax Invoice Please give me the Detailed procedure Very very Urgent