In income and Expenditure Account have any Recievables and Paybles include OR its just like Profit & Loss A/C. It is for a Hospital accounting

Respected Sir,
i want to know that if any company purchases any assets costing Rs. lessthan 5000 then 100% depreciation will be chareged even allready company is having such assets account in thier books ?

Pls mention the case laws /eny other thing for supporting the answer

Dear Experts,
Can anyone give the diff between trading a/c and memorandum trading a/c and also between b/s and memorandum b/s

Thanksin advance

I have bought one car for Rs. 5,00,000. Every year i am charging depreciation under SLM. One day asset value become zero. But Asset is with me only. How to show the same in the books of account? What is the Journal Entry?

Hello friends

Can any one tell me what is the Difference between IFRS , IND AS and IAS.


My understanding is that IND AS are modified form of IFRS. And has been modified by our Institute. Am I right?

Dear sir,

I have a doubt regarding prior period expenditure. Our company's director gone to a foreign country for marketing our products and we have given an advance to him in the month of march 2010(in first week) and he returned to India in 2nd week of May and submitted the bills in the June and most of the expenditure is related to March. whether our company is required to provide any provision for the advance given to him in 09-10 or we directly book the expenditure in 10-11 as travel expenses or as prior period exp

Please advice


Thank you sir

Sir,our cc limit is 1400000.00.I made a stock statement as=Cl.Stock(807081.00)+ goods in process(920000.00)+ finished goods(30000.00)+ debtors(260000.00)= 2017081.00, Sir please confirm me whether its right or not.And what will be the correct statement(approx).

what is payroll system

1) on 22 dec cheque totalling6500 were sent to bank for collecton
out of which a cheque for1500 was wrongly recorded on d credit side of
cash book and cheue amounting toRs 3300 could not be colected by d
bank.

2) a cheque for4000 sent 2 creditor but not presented by him.

3) bank had debited2000 towards interest on OD and600 for bank charges.

4) credit side of d bank column of d cash book was undercast by100

5)a cheque for2000 drawn for office expense were not encashed.

6) a cheque for1000 issued to creditor and was omitted to be
enterd in d cash book. it was however presented to bank.

7) divident colected by bank500 not ented in cash book

On revaluation of a fixed asset, revaluation reserve is created. AS-10 states that on disposal of this asset at a profit, difference between the net proceeds and net book value is transferred to P&L and the balance in the Revaluation reserve to General reserve.
Does the profit refer to difference between the revalued amount and the sale proceeds or the original amount(prior to revaluation). If you could kindly explain the accounting treatment alongwith an example and accounting entries for both profit and loss on disposal of the revalued fixed asset