Thank you Amit sir for responding, however since income tax does not accrue evenly over time I don't think that it will be appropriate to apportion it on the basis of time. I feel it should be apportioned on the basis of profit or sales.could u please clarify the same giving the logic behind your reply.

X applied for 150 shares and 100 shares allotted to him. FV of Rs. 10.

Issue Price Rs. 12 per share {Rs. 2 Application., (3 on Allot. + Rs. 2 on Securities Premium due at d time of allotment) Rs. 5 on First and final call.

Now My Qn. is How we treat the excess amount received on application at the time of forfeiture of these shares.
excess of amount of Rs 100 used for Capital or securities premium.
What will be Forfeiture.

Dear All,
Sir here the company taken 11 Nos Loan from Banks they first calculate all thew interest and booked it as an asset (interest suspense)and after that on payment the entry is booked as like this
Suppose the loan is 100000 from HDFC Bank
EMI is 3778
Loan tenor is 36 Months
Total interest is 36000
the 36000 is transfered to Interest suspense
the entry is
HDFC A/c Dr 3778
Interest (P&L)1000
To,Interest suspense 1000
TO,Bank 3778
Which is right /Not

Second
I have repayment schedule if i can't paid the instalment currectly can i booked the the interest as expense ?

I have posted few forex payment through tally which is shows unadjusted profit /loss based on the initial amount

How to tranfer the same into exchange rate in difference account.

Regards
Deivasigamani

Dear All

Please let me know
1. the accounting treatment (revenue/Capital) of cost to acquire venture capital financing. My Clint has paid Rs 50.00 Lacs to consultants to acquire the Ventures Funds. I want know whether we should capitalized this or charge it to revenue?

X applied for 150 shares and 100 shares allotted to him. FV of Rs. 10.
Issue Price Rs. 12 per share {Rs. 2 Application., (3 on Allot. + Rs. 2 on Securities Premium due at d time of allotment) Rs. 5 on First and final call.
Now My Qn. is How we treat the excess amount received on application at the time of forfeiture of these shares.
excess of amount of Rs 100 used for Capital or securities premium.
What will be Journal entry.

I want to know the ratio of DSCR
Net Profit Rs. 235900/-
Current Assets
Sundry Debtors 179803/-
Closing Stock 495108/-
Other Current Assets 50000/-
Cash & Bank A/c 90389/-

Current Liabilities
Creditors 130732/-
Loan Principle Amount Rs. 180000/-
Loan Interest Amount Rs. 112406/-


Kindly help to find out DSCR Ration.

X applied for 150 shares and 100 shares alloted to him. FV Rs. 10.
Issue Price Rs. 12 per share {Rs. 2 App., (3 on Allot. + Rs. 2 on Securities Premium due at d time of allotment) Rs. 5 on First

Dear Experts,
One of the client first wrongly credited the sale of the fixed asset to the sales account.
Then in the same day itself he has reversed it. But the problem is while reversing he also included the VAT amount from the sales account. In short he also reversed including the VAT amount from the sales a/c. that means he has reversed extra amount than credited in the sales a/c. To that much amount the sales is lesser for that month. While materiality concept is considered it is not a big amount. Pls. tell me how to go about it.
With regards,
Rajesh.

I want to know the ratio of DSCR
Net Profit Rs. 235900/-
Current Assets
Sundry Debtors 179803/-
Closing Stock 495108/-
Other Current Assets 50000/-
Cash & Bank A/c 90389/-

Current Liabilities
Creditors 130732/-
Loan Principle Amount Rs. 180000/-
Loan Interest Amount Rs. 112406/-


Kindly help to find out DSCR Ration.