Balance sheet as on 31/12/2005
asset side
Sundry debtors-Rs.40500

Adjustment:shares are to be valued subject to following adjustments.

A general reserve of 10% of total debtors after specific provision for doubtful debts, has been made fo the first time in 2005 accounts.

kindly explain me the effect of above adjustment in Future maintenable profits and in the net assets calculation.

Re-write the following sentances after filling up the blank space with appropriate words so as to convey the correct meaning:

(A) ____________ advise the central government on the formulation and implementation of accounting standard of India.
(B) ____________ are money held and assets to be received in fixed or determinable amounts of money.
(c) depreciation on fixed assets should be divided between pre-and post-incorporation period in the ratio of ________while preparing income statement.
(d) a company which controls another company by acquisition of majority of shares is know as_________.
(E) if the proposed divided is 20 percent, the percent of profit to be transferred to general reserve is ______ percent.

SIR/MADAM I HAV A PROBLEM THAT I HOPE U CAN SOLVE.

I AM A B.COM PROGRAMME STUDENT 1st YEAR FROM SCHOOL OF OPEN LEARNING.

THERE IS 1 QUESTION IN FINAL ACCOUNTS THAT SAYS SUNDRY DEBTORS INCLUDE 20,000 FROM Mr X.

AND ALSO IN THAT QUESTION THERE IS A STATEMENT THAT SUNDRY CREDITORS INCLUDE 20,000 FROM Mr Y.
PLEASE TELL ME WHAT TO DO.

ALSO I WANT PREVIOUS YEAR PAPERS OF B.COM PROGRAMME 1st YEAR OF SOL.
PLEASE HELP ME.

I got 59 marks in Accounts(Pcc) nov 2010 exams if iam sending letter to the secretary (Delhi)for the purpose of exemption(60Marks).My question is if i got confirmation from the authority in april 2011. But i am writing the Pcc 1st group exams in May 2011, how can i proceed with this information i.e there is no need inform any body?

i am working in small company

i have a query

we are purchasing something

party is giving us bill adding transportation charges with the ammount and then add VAT on the Total Amount

this bill is wrong or right

i want to know

For Exemple

purchase Amt 100000
Transpotation 3000
VAT on total 1030
total bill Amt 104030

this is correct bill or not tell me sir

because Vat is on Purchase and not on transportation

so on purchase amt 5% VAT is applicable

and then after applying Vat transportation charges will be applicable

right na sir

plz explain me

I am an accountant and doing account of jewellery shop where a customer makes part payment by cash 7 part by credit card or somtimes gives in advance. In such a situation i have to pass two entries as below:-

1. Party a/c dr ( Entire Amount)

To Sales

To Vat a/c

2. Credit Card

To Party A/c

3 Cash

To PArty A/c

My question is is there any way to pass one single entry in tally .e

party a/c dr

cash a/c dr

credit card a/c dr

to sales a/c

to vat a/c

ABC company find telephone expenses of Rs 50000, subscription of rs 35000arev disallowed by the commissioner of income tax . the decided pay the amount of Rs 85000/- to income tax department and not to appeal . what is the voucher entry in books of assesee (tally entry)

PLS. HELP REG.

CALCULATION OF MACHINE HOUR RATE WITH ONE EXAMPLE.

THANKS.

The company is listed it's FCCB in Luxembourg SE. The other conditions with regard to applicability of IFRS are not applicable to the company execept oversea
listing of FCCB. This FCCB can either
be converted in to equity shares and listed in India, in case of conversioan or
be redeemed on maturity in July'11.
There is no ADR or GDR embedded in FCCB.
under the above context, IFRS would still be applicable? This FCCB is covered under
Overseas Listing of securities?

Can any body guide and give expert opinion
on this?

Thnaks in advance..

Mouli

CAN ANYBODY GIVE ME SHUKLA-GREWAL OR R.L GUPTA NOTES.
I WILL APPEAR FOR IPCC IN NOV'11.