when calculate of profit u/s 349 of the companies Act.profit from sale of immovable property of fixed assets of capital nature comprised in the undertaking or any of the undertakings of the company,unless the business of the company consists,whether wholly or partially of buying and selling such property or assets are NOT TAKEN WHILE CALCULATE NET PROFIT..and profit on sale of machinery is taken while calculate the profit.so can any one tell me why it is taken coz one side LAW prescribe that it should not be taken and on other hand it is added in NET PROFIT...pls clarify me..

CAN ANY ONE PLS EXPAIN ME HOW THIS FV IS CALCULATED AND HOW TO CALCULATE 4.046

PLS

Ram has deposited Rs. 55,650 in a bank, which is paying 15 per cent rate of
interest on a ten-year time deposit. Calculate the amount at the end of ten years?

Calculation of Future Value (FV)
FV = P  CVF10,0.15
FV = 55,650  CVF10,0.15
(CVF of Re. 1 at 15 percent for 10 years is 4.046)
= 55,650  4.046
= Rs. 2,25,159.90.

In year 1 cost of inv. 10000 NRV Rs 9000
in year one value as per AS2 is rs 9000/-
now in year 2 (no sale) opening value of inventory is Rs 9000/- cost is Rs 10000 but NRV is 9500/-
now in books its value is Rs 9500/- (cost or nrv which ever is less)
but actually how it will be incorporated in books.
plz give your answer as per AS-2 & IAS 2.

Y Ltd.purchased 500 units of raw material @ Rs15/unit gross less 10% Trade Discount.Sales tax is chargeable @5% on Net Price.The Exice Duty element on the product is Rs. 12/unit against which MODVAT can be claimed.The Company spent Rs. 1000 on transportation and Rs. 500 for loading and unlaoding.Calculate the Cost of Purchase of Raw material
please provide complete entry for all the above events

Pls tell, if there is a case of short supply of materials with 2 qty, then which ledger required to debited ?
Is Price Difference or Goods Return is correct or any other required to create ?

Most urgent.

Y Ltd.purchased 500 units of raw material @ Rs15/unit gross less 10% Trade Discount.Sales tax is chargeable @5% on Net Price.The Exice Duty element on the product is Rs 12/unit against which MODVAT can be claimed.The Company spent Rs 1000 on transportation and Rs 500 for loading and unlaoding.Calculate the Cost of Purchase of Raw material

A Ltd. is selling refrigerator ,Purchase Price of the refrigerator is Rs. 15000 as per the terns of sales .The refrigerator is to be delivered and installed at customer`s house free of cost.A ltd has Hired Y & CO. for the purpose and being paid Rs 1000 per Refrigerator for delivery and installation.At year ended on 31.3.2010,refrigerator was in stock is 10.The market price of the refrigerator is Rs 15750.calculate the value of closing stock as per AS-2..

if we have purchase mutual funds what is entry for the same and the appreciation of fund value entry or decrease in the fund value what is the entry for the same.
kindly tell

A pvt. ltd. company in India has its office in Mumbai. This office gets damaged by fire. The doors, windows,filing cabinets, flooring, air conditioners, computers and various office equipments and records are damaged. In the books of the co. , the above items destroyed do not appear anywhere in the books and even if they appear they appear in negligible written down value.
The loss is however estimated at Rs. 2,50,000/-.
How should the company pass entry for the above loss in its books and how should the co. proceed to claim the amount of fire insurance. There is a fire insurance policy for office premises of Rs. 5 lakh.
Please offer the guidance and also explain how will accounting treatment be given for : 1) loss due to fire 2) insurance claim when received.

in which condition MAT IS Applicable and on which amount should the MAT be computed