Kindly provide me with the file/formula/software, which can bifurcate the PRINCIPAL amt & INTEREST amt from an EMI

I had some excel file in my e-mail
but it's been lost

i have paid rent on 05.12.10 through ICICI Bank

the amounts is 240000-(tds10%) 24000
so amount paid is 216000
rent paid for the month from december 2010 to november 2011 i.e full 1 year

now how to pass the following entries
entries should pass according to financial yaer 2010 -2011
i am making the entries
plz check if it is correct or not

05.12.10payment entry
rent exps Dr. 72000
prepaid rent(inadvance) Dr 144000
icici bank cr. 216000
(being rent paid to xyz party for the period from dec2010 to november 2011)

05.12.10J/V Entry
XYZ( Party) Dr.24000
Tds on rent Cr.8000
Tds in advance Cr.16000
(being tds deducted on rent)

payment of tds on proper date
07.01.2011
Tds on rent Dr.24000
By ICICI Bank Cr. 24000
( being tds paid into bank)

plz sir check this entries and plz let me know that this entre is is correct or not

best regards
momin irfan
accountant
juniorlevel

As per AS 13, the Long term investment has to be recorded at cost unless there is a permanent reduction in value.

USGAAP/ IFRS require HTM (Held to Maturity) / AFS (Available for Sale) investments to be checked for impairment on every balance sheet date. (fair value principle).

There is an investment in stock market, which crashed on the balance sheet date. The management believes the fundamentals of the company are sound, and that there is no provision required as per AS 13.

1. Would this be ok to record the investment at cost as per AS13.
2. Would impairment be required as per USGAAP/ IFRS.

is adjustment entries are follow golden acconting principles

hi,
I have doubt, as to when to account for sale of goods in the month end.
e.g if the invoice is dated 30th Nov but dispatch has actaully happened on 5th Dec.
The accounting of sales was done on 30th nov itself to show more turnover.

Further sale is not on ex-works basis (i.e.here seller is bearing freight)

as far as i know since the intention here is to book more revenue and also CIF basis i think it should be accounted on Dec 5th.
Am i right?
Kindly reply....

Hi experts
As per As-11 closing inventory should be valued at closing rate,but in case at what rate opening inventory should be taken either at opening rate or we to consider same value as we calculated in closing inentory?pls explain me how to value with reason

How does dep create funds for replacement of assets?

If one say that by creating accumulated depreciation account funds are created, i do not understand this logic.

By charging dep we may restricting some amount to be distributed as dividend but how are we creating cash for replacement of assets.

What are the documents to be verified for the amount shown as land in the Balance Sheet?

Please Suggest me the journal entry:
a car purchase of Rs. 200000 and car insurance 15000 on 30 sep. 2010. what is journal entry

Dear Sir,
I need one doubt,one company was purchase vehicle against bank loans ,how to pass the journal & payment entry