Dear Experts,
There is a P&L balance in Trial balance itself. First i did not gave effect to the p&l balance in the financial statements. Then the balance sheet did not tallied (In other words P&L balance existed in the T.B. and the difference between liabilities and assets side of the balance sheet was same.)Therefore i credited the P&L balance in Trial balance in the current account of the partners, the balance sheet got tallied.
My doubt is the way i tallied is right?
With regards,
Rajesh.

Hi,

As per my knowledge AS 30,31 and 32 is the replacement of AS 13.As per ealier proposal of ICAI..it is effctive from 1st April 2011..

But now AS 30,31 and 32 is effective from 1st july 201o.

Is AS 13 is abolished effective from 1st july 2010?

Please confirm its urgent..

Thanks,
Anil

Dear Experts,
Is it possible to add the bank guarantee in the cost of Fixed Assets?
As far as i know since it does not involve any cash outflow it cannot be added.
Pls. guide me whether i am right or not...
Thanks,
With regards,
Rajesh.

CAN ANY ONE SUGGEST ME HOW TO MAKE ENTRY IN BELOW SITUATION..?
ITS VERY URGENT TO FILE I.T. RETURN....
Q. TDS DEDUCTOR GIVE F-16A TO MY CLIENT, &
BESIDES REGULAR ENTRIES DURING WHOLE YEAR
IN LAST ON 31.3.2010 HE MAKE ENTRY OF PROVISIONAL COMMISSION & DEDUCT TDS
BUT DO NOT GIVE CREDIT IN MY CLIENT'S REGULAR ACCOUNT STATEMENT.
TDS DEDUCTOR MAKE ANOTHER PROVISION ACCOUNT BY MY CLIENTS NAME & GIVE CREDIT TO THIS ACCOUNT STATEMENT.
ALSO, HE GIVE CREDIT IN MY CLIENT'S REGULAR ACCOUNT IN NEXT YEAR....
PLEASE... TELL ME HOW...CAN I CLAIM FOR TDS DEDUCTED & HOW CAN I PASS JOURNAL ENTRY IN MY CLIENT'S ACCOUNT..

Sir,
I Have done Audit of Pvt Ltd Company Where Mat Provisions applied.
My Ques is that, since the 15% Rate applied on Book Profit, then Whether Deffered tax Liabilty Created By 30% or 15%.

This is Lakshmi Narayana. If anybody is having detailed difference between Existing Accounting Standard and Proposed Accounting Standard and IFRS for all the standards. Kindly send to my mail calakshminarayana@gmail.com

Dear Sir,

Can any one forward me networth statement of ltd companies

My email id is:- shrishail.umaranikar@rediffmail.com

Thanks
Shrishail

ABC PVT LTD HAS BEEN GIVEN SHARE APPLICATION MONEY TO XYZ PVT LTD. NOW MY QUESTION IS SHARE APPLICATION MONEY IS SHOWN AS ADVANCE OR INVESTMENT IN THE BOOKS OF ABC PVT LTD.

Dear Experts,
Capital subsidy has been received by a firm. To purchase the asset the firm has taken term loan from a bank. Now the bank has received the capital subsidy, for which the bank has reduced the o/s term loan to the extent the capital subsidy has been received.
In such a case accounting entry passed below is right?

Term Loan A/c Dr. 500000
To Fixed Assets A/c 500000
(being the capital subsidy received by the bank)

Is the above entry correct?

With regards,
Rajesh.

What will be the accounting treatment of the capital subsidy received from the govt.?