1.Preliminary expenses of Rs.75,000 are incurred for incorporation of company in FY 2008-09 what entry need to be passed ?

2.Whether the whole of expenses to be charged to P/L or can only 1/5 is to be charged to P/L & remaining is to be shown in B/S?

Dear Experts,
pls. suggest me procedure & steps for outward remittance.I want to make payment against import of goods for resale.

Hello, I had a query on Goodwill -

In case of a taken over company with Goodwill is it a must that we make an Amortization (AS26) or is it enough if we do an impairment testing (AS28).

Kindly help to clarify.

Thanks a lot in advance.

one of my client has received a letter from IT department regarding adjustment of refund granted to him against demand raised from him by the department. IT departmrnt has suomoto adjusted the refund against demand where as we are still figthing case against department regarding that demand. pls suggest what accounting treatment in this particular case is needs to be done.

Please explain me the meaning of this : "As per Para 30 of AS 10 “Accounting for Fixed Assets”, an increase in net book value arising on revaluation of fixed assets should be credited to owner’s interests under the head of ‘revaluation reserve, except that, to the extent that such increase is related to and not greater than a decrease arising on revaluation previously recorded as a charge to the profit and loss statement, it may be credited to the profit and loss statement. A decrease in net book value arising on revaluation of fixed assets is charged directly to profit and loss statement except that to the extent such a decrease is related to an increase which was previously recorded as a credit to revaluation reserve and which has not been subsequently reversed or utilized , it may be charged directly to that account. "

My co. Telephone bill is Rs. 57803.00 including Service Tax is Rs. 5328.00 period of Bill 11-03-2011 to 10-04-2011, whats is Accounting entry in books 31st march-2011, & after 31st march-2011 eg next year 1st April-2011. plz reply me ASAP...
Thanks
Arun

Dear Sir / Madam,

If one has tunrover 7 to 10 crore but does not make any voucher for cash expenditures and makes entry according to profit ratio one wants to maintain. Even one make single entry for total expenditure in particular head. like 250000 repaire and maintenance, 350000 office exp., 450000 staffwelfare etc.

what would be legal impact to account and company for such a type of entries?

IF CA does not audit books.

Thanks & regards
Jitendra

We use to dye our product from outside party. in a case we issue dying order on 25/3/2011, parties dilivery challan date is 2/4/2011, parties bill date is 5/4/2011, in which year exp to be debited FY 2010-11 or 2011-12.

My view is to debit expenses in FY 2011-12

What is a balance sheet? Which is a query in mind from so many days (Infosys interview question).
Basic question which is a fundamental one but created a query.

Every one say its just a format having two sides - one is liabilities and another is - assets.
But seeking for the exact meaning of balance sheet...
Thanks in advance.

For FY 2008-09 company has incurred preliminary expenses for incorporation of company of Rs.75,843 which are deducted from loss incurred by co. & same are shown on Asset side side of B/s. How to deal with prel exp for preparing the balance Sheet for FY 2009-10.