there is difference in banks pass book and bank column cash book .it is rectified by BRS, BUT which balance is posted to balancesheet and why?pass book balance or bank column cash book balance?

Our client being a Pvt. Ltd. Co.has purchased textile machine of worth Rs.35 Lacs on 08.06.2009 & same put to use on 01.07.2009.Later on received Tuf subsidy on the above machinery of Rs.6 lacs on 12.01.2010.

Now our query is (i) What will be treatment of the above transactions in books of A/c & (ii) How much Depreciation will be recorded in Books as per Companies Act as well as as per I.T.Act.

Please reply urgently.

Thanks in Advance.

Ankur Baheti

Loan taken from Hema Rs.15lacs,
Loan from SBI BANK Rs.5 lacs,
Loan from Financial institutions Rs.2lacs,
Overdraft from Bank Rs.3 lacs,
Interest paid to Hema Rs.15000/-
Interest paid to Bank Rs.5000
Interest paid to Finance Rs.3000
Interest on overdraft Rs.3500

Please make the journal entries for this transactions.

Respected All,
I received the bill from OMC as under,
Value of Iron Ore Rs.5492114.50
Royalty Rs.292404.42
VAT Payable@4% Rs.231380.76
Entry Tax Rs.60159.00
Analysis Charges Rs.1340.50
Labour WelfareCessRs.3797.46
Edn. Cess Rs.75.95
SHE Cess Rs.37.97
Invoice Amount Rs.6073488.00

How will I pass the entry in Tally?

tally9 to other accounting software

Please inform me “ suppose I have to put the opening balance in tally9 from the last year(31st march 2010) closing data
1- for this regard should I take trail balance of last year (31.03.2010) from tally to put opening balance
2- or I have to wait balance sheet for the year ended ( it is not yet prepared)

I have although try to put the data having Trail balance but there is some difference,

Please tell me what would be the best way to put the opening balance from last year closing balance

Wat is the Concept of "Mark to Market Margin" in F& O Trading and how it is accounted ?


Is it a Nominal account or a real Account ???

Please inform me “ suppose I have to put the opening balance in tally9 from the last year(31st march 2010) closing data
1- for this regard should I take trail balance of last year (31.03.2010) from tally to put opening balance
2- or I have to wait balance sheet for the year ended ( it is not yet prepared)

I have although try to put the data having Trail balance but there is some difference,

Please tell me what would be the best way to put the opening balance from last year closing balance

Please inform me if I have a Co.(form 1.04.2009 to till today) on tally9, now I want to create same company on tall9 from 1.04.2010 to 31.03.2011, since there is large number of ledger account in my company on my tall9, kindly inform me the way by which I could not have to recreate same accounts what are with the company since the date of creation 1.04.2009

Regards

Prabhakar Dubey

Hi All,

Pls Clarify me regarding the following..

How to treat R&D cost in the books of accounts?

when it will be deffered ?
when it will be revenue?

if it is deffered howmany years we consider in pharma companies?

Dear Sirs,

One of the Company has borrowed term loan for purchase of Fixed Assets. Please clarify as to whether the processing charges paid by the company to the bank needs to be capitalised?

Thanks in Advance
Dharmaraju