Respected Sir,

Our Firm is A Partner Ship Firm.We deal major in Cash Transation.The payments are say Unloading Charges,Various Consultancy chrges.

Please Say how may cash entry can i pass i a day in the books of Firm Ac

How much amount can we pay in cash in a day.

Only cash voucher presented will be ok or bill needed.Some time we dont receive bills but payment are made.

How should be the voucher presented for cash payment by legal way.

Please reply.

Thanks & Regards

1. what should be the entry of due, i mean salary due,wages or any expenses made by company.
2. what should be the entry for transfer, i mean if a company transfd. any amount from one bank to another.

In a company the managing Director of the company also getting the remuneration. Is Company also liable to pay to gratuity to his managing director after retirement?

Please also send me link about the gratuity act if possible.

Please guide me because I am computing the gratuity liability of the company.

Thanks & Regards,
Raghav

Dear Experts,

Mr. X has finalized accounts of a Pvt Limited co with a closing balances of bank & credit cards as per company balance. is this correct?

Co director is using 6 credit cards & Mr. X has shown all cards credit balance under loans liability. is this correct?

What is the correct treatment for the above.

if the books of accounts are audited as per the above practice is there any issue?

pls clarify,

Dear Experts,

Mr.A is director of Pvt Limited and He is doing proprietorship business. My Query, is he is getting director remuneration in Pvt Limited. is we need to show salary received & TDS receivable in Proprietorship accounts if yes under which head we have to take whether as capital or Other income under indirect exp.

Pls clarify.

CAN UNDERWRITING COMMISSION BE GIVEN IN KIND ?

l have a car in my books.its book value is 378555 & i sold in rs.312500. can i claim depriciation on this car for 7 months.

i want to purchase new car .is it beneficial to show more loss on sold car. what is the impact of loss on balance sheet.

Mr. X has converted his private asset comprising of the following asset into his
business asset on 01.4.2008:

Asset Original Cost Dt. of Acq
A) Building Rs.2500000 01.04.06
FMV as on 01.04.08
Rs.3500000
Value recorded in books
Rs.4000000

What is the cost of asset to be capitalized in the books?

Thanks
Regards,
Devendra Kulkarni

Dear All

Request you to kindly tell me how to account / the entry to be passed (accounting software used - Tally)while establishing Letter of Credit (LC) in favour of the supplier for procurement of Raw materials / spares. On an average the usance period of LC is between 60-120 days.

Currently the client is not recording the transaction in tally and the same is kept outside the books. As and when the LC is liquidated the same is recorded in the books.

The books doesnt reflect at any point of time the total of LC outstanding.

I am of the opinion that - for the client it is not a contigent liability.

Kindly advise

Can anybody tell me
What are the papers to be required to prepare Annual Report? and who is responsible to prepare annual report in a company?