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.

hello,
When an asset is bought for Rs 100000 + vat 12.5% (pls confirm this rate) then what is the accounting entry in tally. pls mention groups for the ledgers to be created.

thanks
kirti.

Dear all respected CA Members,
I have to Learn SAP. Could you help me in respect of the following-
1 Exactly what is SAP
3. What are fields in SAP learing.
2. I want to concentrate in Financial & Management Accounting. which institute I have to join from Mumbai.
4. One SAP Software accounting working is differenne from Others ?
5. Any Manual Comes.

Regards

hello friends,

purchase of 1000usd product from USE
on the date of purchase
exchange rate 45
& Bank Rate 45.5

my question is we have record purchase entry on exchange rate or bank rate??

waiting urgently for ur reply.
thanx in advance
my id abhipcc@rediffmail.com

What is the current depreciation rate under Companies Act for SLM method for following assets

1)Software
2)Office Equipment (including electrical appliances)
3)Furniture & Fixture
4)Plant & Machinery

We are a non manufacturing concern

A IMPORTER PURCHASE GOODS WORTH $100.

AND IF TO THE PARTY SUPPOSE ADVANCE PAYMENT MADE BEFORE 6 MONTHS OF $150,
AND EXCHANGE RATE AT TIME OF ADVANCE PAYMENT IS 47.

AND WHEN PURCHASE THEN AT THAT TIME EXCHANGE RATE WAS RS. 49/-

AND BILL OF ENTRY EXCHANGE RATE TAKEN 48.5/-

THEN IN PURCHASE ACCOUNT WHICH EXCHANGE RATE TO BE TAKEN.