Hi,

A person has made fd dt 26/9/2009 and maturity date is 27/7/10 for 13 months

Opening Dt Amt 25000.00
Maturity Dt Amt 26899.00

In FD Statement Bank shows 1410.00 interest is paid as on 31/3/2010.

What Entry Should I Pass:
FD Cretied: FD Dr Cash Cr
Interest Entry: Accrud Interest Dr Interest on FD Cr

OR
FD Dr Interest Cr.

Please Clear when we pass entry for Accrud Interest.

Thanks & Regards
Survesh

how is the interest calculated on partners current account ??? is it calculated on closing balance or as per Avg Due Date... pls give detailed solution and calculationssss.........

the profit for 1998-1999 are rs. 2000; for 1999-2000 is rs. 26100; and for 2000-2000 is rs 31200. closing stock for 1999-2000 and 2000-2001 includes the defective items of rs. 2200 and rs. 6200 respectively which were considered as having market value NIL. calculate goodwill on average profit method.

pls anybody help me out from this problem

SIR, PLEASE SUGGEST ME WHAT ACCOUNTING ENTRY SHOULD BE PASS WHEN ANY ASSET IS NOT TAKEN OVER BY PURCHASING COMPANY...
REALISATION A/C DR..
TO,ASSEST A/C

BANK A/C DR..
TO,REALISATION A/C

OUR CLASS SIR SUGGEST THE ABOVE EFFECT FOR THE PROBLEM..
WHETHER THE ABOVE ALTERNATIVE IS CORRECT OR NOT...

Dear Expert's

i am involved in preparation of parties outstanding aging.but while performing this function i m little bit confused in weather to take original outstanding or to take outstanding based on revaluation(if it is a foreign party)

for an example:
Mr.XYZ outstanding as on 31st march
1.100(USD)x 45(Original rate)=4500
2.100(USD)x 46(revalued rate)=4600

now from the example please tell me which one i should consider 1 or 2 for aging

and also provide me some references from I GAAP and IFRS

wt is the account payble and account receivable

AN ASSOCIATION HAS TAKEN A RENTED PREMISES FOR THEIR WORKING AND INCUR HEAVY EXPENDITURE FOR RENOVATION AND DECORATION.THESE EXPENSES HAVE BEEN CAPITALISED.CAN DEPRECIATION BE CLAIMED ON IT?
THANK YOU.

Dear Sirs,

What is the difference between depreciation as per companies act and income tax act.

DEAR SIR,

I HAVE TAKEN PURCHASE BILL OF RS.115000/- FROM A FIRM AND PAYING REGULARLY THROUGH CASH PAYMENTS BELOW RS. 20000/- EACH.I WANT TO KNOW THAT ,THE CASH PURCHASE WILL BE DISALLOWED U/S 40 OR IS THERE ANY TDS LIABILITY.ALSO EXPLAIN THE RIGHT WAY TO DEAL WITH SUCH A TRANSACTION.

THANKS IN ADVANCE.

Is there any diffenance in Net worth & Capital employed? also tell me meaning of these two terms?