Dear sir,

The closing stock value (Inventories) in balance sheet as at 30-09-2010 is US$ 70,0000.

But the actual stock value after the physical stock check is found to be US$ 60,0000.

How to write off the difference US$10,000 from the balance sheet as at 31-10-2010.
US$10,000 worth items are actually not in the stock.

which entry to be passed to write off US$10,000.


Closing stock a/c( Balance sheet)- Dr.
Inventory expense a/c ( P&L) - Cr.

Is the above journal entry correct.

I am using a different ERP software and can not journalise the closing stock and a P& L expense item. What to do?

I can journalise the closing stock and purchase account.

Please reply

Sam

Sir,
if the tax provision for 2009&2010 is Rs.180 &Rs.200 respectively and advance tax is Rs.180&Rs.195 respectively(in balance sheet)and tax provision in P/L is Rs.200;what will be the amount of tax paid in cash flow statement under operating activities?please explain. i can't understand.

What is Bills Recievable , Bills Payable & what is Accounts recievable & Accounts payable ?? Is there any ifference?

Dear sir,

The closing stock value (Inventories) in balance sheet as at 30-09-2010 is US$ 70,0000.

But the actual stock value after the physical stock check is found to be US$ 60,0000.

How to write off the difference US$10,000 from the balance sheet as at 31-10-2010.
US$10,000 worth items are actually not in the stock.

which entry to be passed to write off US$10,000.

Sam

Dear Sir
Iam thankful for the information & i wanted to more in tax, tds,service tax
can i have help?


if suppose iam not using any software for tds only nsdl then how can i get certificate

I want to know in case of a pvt. Ltd. Co. If director recieve salary.what is its entry in tally. And all entry in case of tds deduct on comission.

Sir,

Please tell me the difference in Mercentile System of Accounting & Accrual Basis of Accounting.

Regards

what do you mean by amortization of expense/income in accounts? Please explain.


Regards
Devendra

DEAR SIR
I TAKE ONE L/G FROM BANK RS.20000/- AND BANK DEDUCTED FROM US RS.21000/ AND MARGIN STATEMENT FROM BANK SHOWING RS.21000/- BUT L/G SHOWING ONLY RS.20000/-
SO THE ENTRY MUST BE

MARGIN ON GTEE DR RS.1000/-
L/G DR RS.20000/-

TO
BANK RS.21000/-
THIS ENTRY IS RIGHT OR NOT PLEASE HELP ME

DEAR SIR
HOW WE WILL CREATE PROV FOR BAD DEBTS PLEASE GIVE ME ONE EXAMPLE AND WHAT IS THE DIFF BETWEEN PROV FOR BAD DEBTS AND PROV FOR BAD & DOUBTFUL DEBTS