Dear sir,
our products need to be packed in a costly material before their sale. at the moment we are debiting packing charges for purchase of packing materials. we are not considering it as part of our inventory. can we treat packing materials as part of our inventory as per as-2

In A chit business

what is entry for recoding every month

installments received from member.


How to adjust chit dividend against evry

month installment through entry

whether profit or loss from sale of assets is extra ordinary item under AS-5 or not.

Thanks

Sir,

As per the subject, in case of takeover if the company who's business is takenover by another company has business losses can such losses be carried forward as business loss in the books of company who has taken over the business if so under which section.

Pl suggest me the accounting entry for payments made towards Lumpsum trunky project.

Say, My project is still going on and i have made payment of Rs.1 Crore on the basis of invoice received than what should be the accounting entry for this.

should it be debited under Work in progress account or should be treated as advance in view of AS 10 payment.

Thanks

what u mean by guarantee under lien

On the receipt of import documents ( Sight Lc) in Bank, payment of $ 10 mn @ Rs. 45 has been made on 20.12.10 towards import of assets under construction. The aforesaid consignment was cleared from the port on 24.12.10 the rate of $ was Rs. 46/- on that date.
In this case whether Ex. Loss of Rs. 100 lacs is to be charged in revenue ( As per AS 11) OR is to be capitalised under CWIP.

opning balance of cash in hand is overstated by Rs.5000/-(L.Y. cl. bal).
reason is cash embezzeled by the accountant and cannot be claimed now.

what entry should be passed and also it
should be passed in payment mode or not.

One of the my client has crossed turnover of Rs.10 lac so that it is mandatory to pay service tax by e-payment but he doesn't konw how to operate so that he want to deposit money in my account and i will pay his service tax from my account using my internet banking.
so how it will be reflected in my account at the time of passing accounting entry for such transaction?

Respected Expert,
I want to know which type of item booked for capital item is any AS mentioned the particular value for capitalized the item like above 5000 amount value item only capitalized, Kindly clear my doubt.

Thanks & Regards