Dear Friends, First of all I would like thank & appreciate you for the initiative of helping accounting enthusiasts learn more through your portal.

My Question:-

Background: - A partner (partnership firm) made a purchase of goods (for sale) from a vendor and made the payment through his personal bank account. These goods were sold by the company through the proper channel and the company has received the payment.

Query: - How should we treat this in tally?

Your guidance is deeply appreciated.

Regards,
Manoj

Difference between prepaid and preliminary expences

DEAR MEMBERS I WANT TO KNOW THAT HOW CAN I CALCULATE BONUS IN A PVT COMPANY.

why is capital reserve being non-divisible profit shown under the head shareholders funds ?

Please provide me a debtor ageing analysis for the period upto june and upto Sept

1.S Ltd. issued 2,000, 10% Preference shares of Rs.100 each at par, which are redeemable at a
premium of 10%. For the purpose of redemption, the company issued 1,500 Equity Shares of Rs.100 each at a premium of 20% per share. At the time of redemption of Preference Shares, the amount to be transferred by the company to the Capital Redemption Reserve Account will be_________

2.W Ltd. issued 20,000, 8% debentures of Rs.10 each at par, which are redeemable after 5
years at a premium of 20%. The amount of loss on redemption of debentures to be written
off every year will be_________

3.If sales revenue are Rs. 4,00,000; cost of goods sold is Rs. 3,10,000 and operating expenses
are Rs.60,000 the gross profit is

4.The total cost of goods available for sale with a company during the current year is
Rs.12,00,000 and the total sales during the period are Rs.13,00,000. If the gross profit margin
of D cos is 331/3% on cost closing inventory during the current year is

General using Journal Entry For:-

1. Month closing
2. Reversal entry
3. Company opening entry
4. Asset purchase entry
5. Others

kindly help me.

what will journal entry for this transaction.
Rent Of Rs 12,000 is still due at the at of accounting year, and 1/4 of building is used by proprietor's Son.

1.The cost of inventory on April 20th was computed as Rs.5,25,000. The purchase of goods from April 1st to
20th were 3,25,000 which include cash purchase of Rs.75,000 and goods costing Rs.50,000 not yet received.
The value of closing stock for year ending 31st March would be ____

2.Opening stock 60000
Purchases 90000
Sales 120000
Gross Profit on Cost 33 1/3%
Cost of goods lost in Rs.15000. Insurance Claim Received Rs.5000
closing stock...?

3.A Sold Goods for Rs.50,000 which includes a sale to a customer for Rs.5,500 at cost + 10%, but these
goods were still in godown at the risk of buyer. The Total Sales to be recorded is

4.Fixed assets are double the current assets and half the capital. The current assets are Rs.3,00,000 and
investments are Rs.4,00,000. Then the current liabilities recorded in balance sheet will be

INVOICE DATE IS 31-03-2011
PURCHASE DATE 02-04-2011
DELIVERY CHALLAN DATE 03-04-2011

THE GOODS WE ARE SELLING IS NOT AVAILABLE IN THE YEAR END AND IT IS ISSUED TO CUSTOMER WHEN IT IS PURCHASED IN THE NEXT YEAR I.E. 02-04-2011, SO THE QUESTION IS IN CASE OF SALES ENTRY IN FOCUS ACCOUNTING PACKAGE SHOULD I CHANGE THE PURCHASE ENTRY DATE ASPER INVOICE BECAUSE IF WE DO NOT CHANGE IT THEN WE CAN NOT MAKE SALE ENTRY OR IS THERE ANY OTHER WAY


WAITING FOR EARLIEST REPLY