Dear Sir's & Friends,

Ours is a Diamond Polishing company & we pay reassortment charges before selling or exporting the C & P Diamonds. Actually the goods are already assorted & are ready for export or sale in the market. Some consignees want us to reaasort the same before exporting. Such charges are debited as Reassortment charges in our accounts & T.D.S. @ 11.33% is deducted. My question is can we include this kind of expense in our Cost of Goods Sold. Please help

Hi,

I am Nitu Pandey, working with a software company as an account Executive. I want to know about procecing packing credit & what is documentation for this.

Thanks & Regard
Nitu

Hi,

I am Nitu Pandey,working with a software company as an account Executive. I want to know that what is the procidure of Bill Discounting.

Thanks & Regard
Nitu

what is the meaning of penal interest?
plz help me..

how will a propeitor maintain his personal and business balance sheet

CAN I COMPLETE THE CPT COURSE IN 10 DAYS.....PLZ TELL ME I CANT STUDY BCOZ OF MY ACCIDENT.......

Can any of respectable experts make me clear that while passing journal entry in the books of transferee company -what treatment of STATUTORY RESERVE of transferor company will be done (Amalgamation in nature of merger )

I know that in nature of Purchase -it is done as follows :-
Amalgamation Adjustment a/c Dr.
Statory Reserve a/c Cr.

But in nature of Merger -its little bit confusion.

thanks in advance

X, who is selling products ABC, EFG,IJK, sells goods on 6 Months credit to Y of Rs. 1,00,000 on 01.04.09 for which details are as under--------------

Stock No. Particulars Qty Rate Amount
--------- ----------- --- ---- ------
101-110 ABC 10 2500 25000
146-150 EFG 5 2000 10000
201-220 IJK 20 3250 65000
TOTAL ------
100000
------

on 31.08.09 Y has closed down his business & following goods ve been returned
by Y for final settlement-----------

MNO 20 2500 50000
QRS 50 1000 50000
TOTAL ------
100000
------

X is not dealing in product MNO,QRS.

My question is how can I record those good in my Stock register

Q. Which of the following is false :

a.) The value of ending inventory under simple average price method is realistic.

b.) Usually profit or loss will not arise out of pricing the issues on the basis of average price method.

c.) The value of stock is shown on the asset side of balance sheet as fixed assets.

d.) Opening stock + Purchases - cost of goods sold is the value of closing stock.
---------------------------

According to the answer given by study material, - a, b & d are false but I have the following views:

1. option d is correct.
2. option c is false.

Pls resolve the query and explain with reasons.

Regards

Pradeep Goyal

dear sir/ma'am
my ques relates to fund flow statement,its regarding the treatment
of TRADE INVESTMENTS
in the que following info. are given:
op bal of trade investment=Rs105000
cl bal of trade investment=Rs40000
as per income statement gain on sale of investment=R6400
is there any treatment of these adjustment to be done in ADJUSTED P& L A/C, FUND FLOW STATEMENT??

thanks
vijeta verma
pcc student