Journal entries for Insurance claim for the defective parts and claim approved by the insurance company and credited the amount, the same to be transferred to the dealer Account. suggest me the accounting entries to be passed for creating the liability and transfer of loss to the goodwill a/c.

Suggest me the schema of entries.
Murali.

As of now no liability created and only cheque received for the claim how to account the receipt and the flow of entries

Can any one explain me the relationship beetween contribution, P/V ratio and margin of safety.?

How they coneect to other?

I am verymuch confused beetween these three? how to apply?

Please if any one had idea pls explain .

Trade investments?

Hi ,
Can anyone pls provide me the list of nature of expenses and their exp category as per Accounting standard.

for e.g. expense incurred for staff outing (Expense category Staff welfare)

Dear experts,

Which of these equations is correct?

1. Assets = capital – liabilities

2. Assets = capital + liabilities

3. Assets = liabilities – capital

4. Assets = capital + owners equity



Ans:-

what is the cost of purchase in case of import from outside india when we made advance payment for the same.eg
we made payment of $30 @40 Rs =Rs 1200 on 30.06.2010
and we get the delivery on 27.07.2010 when the rate of $ is 45 Rs means total Rs 1350. so what is the amount should be booked in books of accounts is Rs !200 or RS 1350.

How continuous compounding calculations are done?ie when interest is to be compounded daily?

We are very often giving advance to our employees. At the time of settlement, we pass journal voucher for book adjustment. Like if an amount of Rs. 5000 has been given as advance and he has incurred expenditure of Rs. 5500. BPV is passed accordingly debiting the expenditure head for Rs. 5500 and crediting staff advance for Rs. 5000 and crediting bank account for Rs. 500. A cheque is acordingly drawn in favour of employee for Rs. 500.
In this connection my query is:

(i)Is is proper to make adjustment through BPV?
(ii)Should we make a JV for staff adjustment and a Bank Payment voucher for payment of Rs. 500?

We are very often giving advance to our employees. At the time of settlement, we pass journal voucher for book adjustment. Like if an amount of Rs. 5000 has been given as advance and he has incurred expenditure of Rs.5500. JV is passed accordingly debiting the expenditure head for Rs. 5500 and crediting staff advance for Rs. 5000 and crediting bank account for Rs. 500. A cheque is acordingly drawn in favour of employee for Rs. 500.
In this connection my query is:

(i)Is is proper to make payment through JV?
(ii)Should we make a JV for staff adjustment and a Bank Payment voucher for payment of Rs. 500?
(iii)If we continue to follow the existing will there be any audit objection?.
THANKS IN ADVANCE!

plz. let me know whether inut credit of vat paid is allowed as per MVAT Act 2000 on the following items or not.

1) for printing & stationery
2) for consumable
3) for fixed assets such as furniture,machinnery, tools etc.


Urgently waiting for ur reply.