Please let me know What would be the entry for creation of Employee welfare fund, The craetion of Welfare fund is out of deduction form salary of employee.

From the particulars given below prepare a claim for loss of profits
1. The sum of the policy is rs.51000
2. The indemnity period is 9 months
3. The fire occurred on 31st jan 1977 and the monthly sales figures for 1976 ans 1977 are as follows:
Month 1976 1977
Jan 17000 17000
Feb 16000 5500
Mar 24000 6000
Apr 17000 6000
May 15500 7000
June 16000 7000
July 16000 8500
Aug 16500 9500
Sep 15000 10400
Oct 15000 10000
Nov 16000 13000
Dec 16000 14000
4. The net loss for the year ended 31st dec 1976 was rs.35000 after debiting standing charges of rs.125000 of which the insured charges amounts to rs.100000
5. The total additional expenditure incurred in respect of the indemnity period was rs.30000
6. The saving in the insured standing charges for the indemnity period amounted to rs. 2760
7. It was agreed between the adjuster and insured that, but for the fire, the sales for the month of feb 1977 to dec 1977 owing to adverse trading conditions, would have been lower than those for the corresponding months of 1976. For the purpose of loss assessment it was agreed that a reduction of 10% should be made in the relative pre-fire sales figures.

if a person purchase a asset say house property in the name name of others,,then in whose bal sheet it will be appeared,,the title holder or the person who has made the payment?

What is the accounting treatment to claim TCS?

Suppose the client engagged in the business of mining & querrying. e.g. he paid Rs.14,00,000/- for getting the right on mining & querrying. for that he get 26AS tax credit TCS Rs.31436/-(2% on amount actually paid)

what is the accounting treatment in the books of client.

HELLO,

PLEASE LET ME KNOW ON WHAT AMOUNT TDS WOULD BE DEDUCT WHEN VENDOR IS CHARGING WORK CONTRACT TAX{WCT}WITH THE SERVICE TAX.

FOR EXAMPLE.

SUPPLIES AND JOB WORK = 500
SERVICE TAX = 10
G. TOTAL 510
WCT 4
TOTAL 514

ON WHAT AMOUNT TDS WILL BE APPLICABLE 500 OR 514?{ FOR ANY TYPE OF INVOICE IN WHICH WCT IS APPLICABLE}.

a bill raise at 11.6.11 of power bill & payment made on the last due dat 26aut what will be accouting treatment as mercantile system of accounting.

Please explain the treatment relating to 10% preference share capital and also the treatment relating to 9%debentures in question no.6 of chapter "preparation of financial statement of companies , unit 2 cash flow statement pg no.2.21 of CA-IPCC group 1 "accounting" subject practice manual.


A sum of new light ltd

If a firm has rental income by leasing out machinery and for 4 months it is unable to receive the rent and receives rent for only 8 months then whether the accounting of rent can be done on cash basis or mercantile system has to be followed? In effect the firm has not received the rental income for 4 month and received only for 8 months so what should be the treatment in accounts. Also what impact to be taken care of in Income Tax? Please suggest the effective way since assessee firm might end up paying tax on income which it has never earned.

Can any please let me know about my query
should trail balance always agrees?
If No ,reasons for that

KINDLY LET ME KNOW HOW TO CALCULATE DEFERRED TAX: WHEN MY DEFERRED TAX LIABILITY IS RS. 39818/-

KINDLY PROVIDE TO ME COMPLETE FORMULA OF DEFERRED TAX.