HELLO ALL,

PLEAE SUGGEST ME WHAT WILL BE J.E. FOR :

WE ARE NOT IN BUSINESS OF SERVICE WE ARE JUST TRADERS (SELLING GOODS)BUT PRESENT OUR OLD CUSTOMER SEND US AN EQUIPMENT FOR SERVICE/REPAIR SO WE HIRED A THIRD PARTY AND GIVE THE EQP. AFTER SERVICE AND HE WILL GIVE US PAYMENT THAN WE WILL PAID TO THE THIRD PARTY AND WE DONT HAVE SERVICE TAX NO.WE WILL ONLY DEDUCT TDS.
SO PLEASE SUGGEST ME WHAT WILL BE ENTRY IN TALLY .
THANKS,

What can be the treatmet of partners loan a/c at the time of dissolution of partnership firm in various cases.

dear all

please briefly explain about the outstanding assets and liability.

Dear Sirs,
I hope am correct in considering that,
Avg Due Date means, a date on which a single payment is made against several bills without lose or gain to either parties.
for eg: if bills are drawn on several dates like, 1.01, 5.03, 4.05, 2.07, then after computations, ADD may be, say, 17.04.

Here as on 17.04 how can we settle bills drawn on 4.05 and 2.07 ??? Isn't this purely "out of logics" ??

Pls clarify me...

Do anybody have any presentation on accounting of Futures and Options or any guidence note has been issued by ICAI. If yes, u can mail me ar goyalsunil06@yahoo.co.in

A firm of three partners starts coaching classes on 1 April 2010 and receives entire fees of Rs 70 lacs in April for a session of 12 months.On 30 June 2010 two partners retire due to disputes and decide that they do not want any profit or loss for the business, and the remaining partner is running the business as a proprietor.
How should the fees be reflected in the accounts of the firm for the three months ending 30 June 2010.The expenses to run the classes per month are Rs.2.75 lacs.Whether the firm will show a net profit of Rs.61.75 lacs and pay tax on it.Whether the Proprietory firm will show a loss of Rs.24.75 lacs for the nine months ended 31 March 2011. Basis of Accounting is CASH.

in which account shold amount paid for new connection of electricity & amt paid for load increase be accounted ?
Are these admissible expenses?

Net profit as per profit and loss account Rs. 21,58,28,715
Out standing shares as on brgining of the year (i.e. on 01/04/2009) 23,77,25,547

Right share issued on 29/03/2010 3,00,00,000 @ Rs.10 per share

Fair value of the share immediate before right issue Rs.37.86

Kindly help me in calculating Basic as well as Diluted earning per share.

Thanks in advance

Nilang A Dalal

in mercantile system how to make journal entry for service tax at the time of bill raised and during receipt

Dear all,

I have received the bill for 19000 for the same i have deducted TDS& remitted to govt then our vendor reduced the cost, i got bill of Rs/- 18000

Please suggest me the entry in the books of accounts

Regards
Mrityunjay