What are the entries to be passed for sale bill discounting.
1. Accounting the bill
2. Discounting the bill
3. Bank charges recording
4. When bill honoured
5. When bill not honoured.
6. When bill honoured lately.

Thanks for the experts who took time to read and guide.

Hi,

Is it possible to write off carried forward losses against revaluation reserve with HC order?

If yes, which AS speaks about it?

Dear Sir,
As per Para 41 of AS-27, When a Asset is transferred by a venturer to Joint venture, the gain or loss should be recognised which is attributable to interests of the other venturers.
Query:
1. Why the venturer should recognised the gain or loss which is attributable to other venturer?
2. what is the logic behind this approach?

Sir/Madam,

In FY 2009-10,
1. Advance Tax Paid - Rs.60000
2. Provsion for Income Tax - Rs.66000

During FY 2010-11, Rs.6000 is paid as Self-assessment Tax

What will be the Accounting Treatment (ie) Entry to be passed for Payment of Self-assessment Tax of Rs.6000?

Note: Assessment has not been completed.

Dear Sirs,

Our company situated in M.P where we have hire security agency. Now the agency not depositing the PF amount of their guards & as per rule this is principal employers liability to ensure that. We have retain the deposit from security agency & now our company want to deposit that PF amount to pf department. so my inquiry is on which amount we have to deposit the pf amount because the agency not providing their salary sheets. Are we have to deposit the pf amount as per Minimum wages act which is in M.P Rs.154/-(Basic + D.A) for unskilled labour or there is some other rules for this kind of cases.

Thanking You

I am working in a jewellery showroom. We have taken membership in a jewellry show(IIJS- India International Jewellry Show) which will be held at Mumbai. We gave a cheque to The Gems & Jewellry Export Promotion Council with amount Rs. 1105/- as registration fee as IIJS visitor and a cheque of amout Rs 100000/- to All India Gems & Jewellery Trade Federation as the Lifetime Application Fee. Now I am a little bit about the entry. Under which head the entry to made? I have done as follows
I have grouped both the companies under Sundry Creditors. Then made the entry as:
Adv & Publicity A/c Dr.
To Creditors A/c

Then

Creditors A/c Dr.
To Bank A/c.
Is it Correct ? I am a little bit consused about this Plz help me.

if the fixed assets purchase bill includes vat on purchase of f.a. and other tax e.g. exise custum etc.. than what amount should be carry forward for that assets? whether gross amount is carry in chart of deprecation (gross amount means inclusive of all taxes on purchase ) or only net purchase amount is carry
plz help me...............
e.g fixed asstes bill of rs.10150 in that amount vat of rs.150 is also include than to shwoing the addition in assets during the year in deprecation chart what amount carry...
plz reply

Dear Sirs,

if a resulting company have incurred expense on registration of Companies, then whether resulting company can trat this expenses as preliminary expense or general expenses. If company trat it as preliminary expenses whether it can write off in 10 equl instalments.

can sugest me how to treat the same in this condition if i purchase a software of Rs 13000 and amc of software is Rs 6000.

What will be the treatment of the leased land if we got it without consideration.

An Goverment Authority gave land to use it for 5 years but did not take any consideration, only lease rent of Rs.3 lacs per annum is to be given.

Now my question how to treat this land in the balance sheet, since AS 19 does not apply on leased land and without consideration we can not show it in the balance sheet.