Can there be closing stock in Trial Balance?
If yes, then how?


Regards,
Jinesh

how should the following transaction be shown in debtors ledger adjustment account in the general ledger :

>Bills receivable drawn during the 3 months (1-1-2003 To 31-3-2003) totalled Rs. 30,000 of which bills amounting to Rs. 10,000 were endorsed in favor of suppliers. out of the endorsed bills, one bill for Rs. 6,000 was dishonoured for non-payment as the party became insolvent, his estate realised nothing.


>cheques received from customer Rs. 8,000 were dishonoured, a sum of Rs. 2,000 was irrecoverable; baddebts written off in the earlier years realised Rs. 11,000

Whether retention money is to be excluded while calculating sales turnover?



If retention money which belongs to contracts on going?

can ny give me the diff. between

BalanceSheet date & Reporting date

Thanks in Advance

What is the journal entry if preference shares worth Rs. 100 is issued at a premium of Rs. 5 and redeemable at a premium of Rs. 3?
Entry is required at the time of issue of shares.

Dear Sir ,
i am working with telecom company here i face some probem while doing this entry
plz help
my item value is 5000
add vat on 90% 607
add service tax on 33% 170
total 5777

I had applied for shares 2 yrs. back but allotment has not been made till now and it stands in my balance sheet in the name of Share Application Money. Can I claim this amount back?
Or What else to do with this investment?

I have this querry that ...a proprietor consumes some articles of the organisation and later on pays for it....will this amount to sale?? he has paid till the cost of the asset..
Is this following accounting treatment correct??
Drawings A/c Dr.
To Purchases A/c

then
Cash A/c Dr.
TO Drawings A/c

or pass the direct entry as Cash To Purchases??

Pls guide in this regard

Regards..
Bonita

In case of companies registered under companies act,1956
1. If the company gains profit on sale of asset, sale of investment( i.e the company is not having investment activity as its main source) or capital gain(short/long term) on sale of mutual funds/property , in these cases whether the said gains/profit is to be credited to capital reserve (ie. shown to Liablities side of Balance Sheet) or to be credited to profit / loss account.
Further if credited to profit /loss,will it be treated as revenue income & if yes, then on what basis dividend to be declared ?

2. If there is loss on sale of asset, captial loss then whether to be debited to profit/loss account or to be shown under Miscellaneous exps.( Asset side of Balance Sheet )?

3. Further let may help to know which proit/gains come under capital reserve.

Dear Sir,

Happy New Days
(Property Owner :- Business of Resturant & He is a Proprietor of his Business )
I want to know If I Purchase I House (Property) of Rs.150000/- on 1998-99 & Sale it for 850000/- in 09-10 and Purchase New House (Property)for Rs. 950000/- on 09-10 within 5 Month after sale of Old one.

I want ot Know Can He Show his Old House as Property with Rs.150000/- in Balance Sheet of of 1998-99 onwards to 2009-10 or not ?
If yes What about Difference of Sales Price & Purchase Price of Old ?
Afterthan What about Tax on New Property ? would he has to Pay tax or not ?

Pls tell me Detailed Info...about this matter and I miss Something in it Please add in your Reply

Your Replies are really important to me.

Thanks in Advance