fact:-
assessee is engaged in the trading books.
there is non move/slow moving items hold
at warehouse.

As per as-2 it should value at lower of cost & NRV

query:-
how to judge the net realiable value?
which are the source to determineNRV? OR
WHAT ARE THE PARAMETER to judge the NRV?

how to account credit card sales in sales register and in tally when amt deposited after 36 hrs.


for eg.goods sold worth rs.500 on credit card swap.
on the 2 nd day, rs.499 is deposited.

how to give effect of above entry?

One of the company is incurreing expenditure amouting to Rs.2 Crore on plantation at factroy premises.

Whether this expenditure should be treat as revenue expenditure or capital expenditure.

Ek machinery sale ki 30 lakh ki but dono party 28 lakh me full & final Payment man gai to 2 lakh bal ka kya hoga treatment?

Hi,

Can a company choose the method of depreciation differently for its different fixed assets. For eg: Straight Line Method according to the life time of the asset for Vehicle and WDV method as per rates given in Companies Act for Office Equipments in the same year. Consistency will be followed in the method of depreciation adopted for different assets.

a persone MR. X gives unsecured loan to Mr. Y and Mr. Y gives his Old car for full settlement of his account what entry should be paased in the books of Mr. X also give the Details of depreciation

Sir i want to know whether AS-11 is applicable to proprietorship business also.
Sir in the said business there are foreign debtors of 10000 dollars which are recorded in the books around Rs. 25000000 whether they are required to be revalued as per AS-11 at the closing rate on 31.03.2011 and the difference to be charged to profit and loss account.

i have entry one invoice entry two times

means
purchase a/c 100
vat 4
add. vat 1
total 105

how to revert entry

do i need to revert this entry by credit note or how ?


thanks in advance

A partner had not invested a single rupee in a firm as his capital contribution,is he eligible for Remuneration and Share of Profit.

Could you p;z let me know About Sec-44AF