what is incorporation expenses, and in which account head is to be assign to this?

My company owns 10 cars out of which 1 car is sold at Loss


in case of companies act :-
i will reduce the amount COP from gross block & give the effect of depreciation claimed till date & Selling Price in adjustment column of depreciation block...

wanted to know the effect of same in income tax act
since Selling price is deducted from WDV there is still balance left at the end of year on that car.....should depreciation effect be given on the left over balance for the succeeding years till it gets nill

Hi.. i am doing audit of a company who import goods .

Date of Bill of Lading - 26.03.2011 .. 1USD = Rs. 45.71

Payment Date - 31.03.11.. 1 USD @ Rs 44.81..

31.03.11 Closing Rate.. 1USD = Rs. 44.90

Date on which goods are received in godown - 02.05.11


Now the question is that company had made a purchase on 26.03.11 and since the goods are not received it would be shown as Stock in transit and hence company cannot book it as a purchase.

Now my question is how the exchange difference would be calculated in the above circumstances.

Moreover, when they will book purchase in may they would book it at the rate of Bill of lading. So how would they calculate exchange difference in that case also.

So hence i want that how much amount will come as exchange difference in 2010-11 and 2011-12.

Thanking you in anticipation and i would highly appreciate a prompt reply as it is very urgent.

tell me the diff between hypothication , modgage and pleage

Dear Freind

please clarify the following as per As 11

Treatment of foreing exchange difference in the books of account

As per company Act

As per Income tax

As per AS 11

kindly email on Rajeshh_2008@yahoo.com

Thanks

HI i am working in an consultancy firm.
we had an conference in a hotel in Delhi.
contract has been done for Hotel rooms and banquet.50 % payment has been made via company bank book after deducting due taxes but balance payment has been done through an individual credit card in US currency.
Kindly advise on how to Journalese the payment made through credit card and do advise if any violation of FEMA.

Dear All,

How to prepare the stock ageing reports,

Can you tell me the process,if there is any format for that please tell send me.

Thanks & Regards,

Venu

Hi Everyone

I Need to know the difference between Sundry Debtors, Account Receivables and Book Doubts.
They are mostly used as synonyms but there is a difference between them.

Kindly provide me the differene.

Thanks for your help.

I need interest of fixed deposit for the trial balance as on 31.3.10 :

FD STATEMENT
15.1.09 to 15.01.10 314835 @ 8.5% p.a. (compounded quaterly) maturity value342461

15.1.10 to 15.01.11Rs.339577 @ 6.0% p.a. (compounded quaterly) maturity value360415

respected sir/madam, i have small doubt.i.e.what is creditors recovery process?will u explain that.............