pls clarify me regarding Difference between traveling expense and conveyance expense...

Both expenses same r vary?

On 1.1.05 , x draws a bill on y for Rs. 30,000. At maturity y requests x to draw a fresh bill for 2 months together with 12% p.a. Interest. Noting charges Rs. 100. The amt. Of interest will be??
A.600 B.602 C.500

ans. Is B. Also my question is why r we adding noting charges in calculation of interest??

Dear Expers,

I want to know the method for calculation of FOB value of Exports for audit purpose.

suppose one of our export inv dtd.12.03.11 is for $ 100,000/- @ 45.
we incurred foreign freight Rs.15000/-, & marine insurance Rs.1500/-.

Bill is realised on 15.05.11 ( as credit period was for 60days)

Amt of $ 99,950 realised in our bank @46/-( $ 50 recd short as bank charges)

What will be the FOB value of this inv?

Although it was o/s for the f.y.10-11, do we have to consider its FOB value for Fob calculation of F.y.10-11 for audit purpsoe?

Waiting for ur reply..

Thanks in advance

Regards

Sushil

Hello

I would like to know that if a company is Level 1 company for Accounting Standards then for how many years will it be necessary for the company to follow Accounting Standards for Level 1 if subsequently it has conerted to Level 2

i am paying the staff accomodation rent for the period of 1/7/2011 to 30/6/2012 ie (12 months).

i have made the cheque on 14/9/2011. kindly let me know the entries for the same.

are these correct accounting entries ?

1/7/2011 STAFF ACCOMODATION RENT A/C 4000
TO RENT OUTSTANDING 4000


1/8/2011 STAFF ACCOMODATION RENT A/C 4000
TO RENT OUTSTANDING 4000

1/9/2011 STAFF ACCOMODATION RENT A/C 4000
TO RENT OUTSTANDING 4000

14/9/2011 OUTSTANDING RENT A/C DR. 12000
PREPAID RENT A/C DR 36000
TO BANK 48000

1/10/2011 STAFF ACCO RENT DR. 4000
TO PREPAID RENT 4000


SAME ENTRIES IN DATES 1ST NOV, DEC, JAN, FEB,MARCH, APRIL, MAY & JUNE.


I am just confused whether the rent gets outstanding on 1st day of the month or last day of the month????

hello sir

i am b.com graduate. i m working as an accounts data entry in private concern.
i post all entries but didnt know how to finalise the accounts. balavinayagam17@gmail.com

Can somebody tell us how to download latest balance sheet of indian companies with out paying any fees?

As per Purchase Order 50% is payable in advance while balance after completion.
Regular invoice raised showing total of PO value but payable amount as 50% in terms of PO. Buyer deducted TDS on 100% while releasing 50% payment.

i)Whether this 50% can be recognized as advance payment despite reason that proforma invoice not created?

ii) Is it in order to use other than proforma invoice for claiming advance?

kindly provide me an easy format of bank reco.

Dear Sir/Madam,

Please let me know treatment of Deferred Tax Assets and Liability in calculation of Net Worth of Company.