A gym owner has its 2 branches in same city one is about 7 yrs old and another was established in Feb 09 only.

Owner wants loan on the new one ,Can he get that without taking referrence of old gym?

When owner approahed bank for loan,he got awared about submitting last three yrs B/S and projected B/S for upcoming 3 yrs.

My query is that can i make balance sheet on the same basis as that of his old gym or to show his projected income less than the older gym in projected B/S new gym.

What to do ......

Please do reply

I would like to know accounting treatment of principal and intrest amount of emi of car or bike loan purchased by company.

Thanx

I need it urgent

Provident Fund to be ducted on Leave Encashment ? OR Not ?
Also in other compoent of Calculating Full and Final. Like Notice Pay to be paid from Co to Employee, etc

Please Reply.

Provident Fund to be deducted on Leave Encashment ? Or Not ?

Matter Urgent, Can anybody enlighten on the same?

(Dispute Occured, need to proove to one Employee.)
Please Help

Can goodwill be more than capital while selling? Please explain.

When some imported goods are purchased on highseas basis, payment is made to the seller in INDIAN RUPEES,however goods are cleared in the buyer's name.
what will be treatment in notes to accounts particularly
1. whether to include in CIF value of imports
2. Whether to show the consumption as imported goods
3. whether to show in figures of Expenditure in Foreign currency

what will be the accounting effect in this given case:

My client bought a Asset worth Rs. 82 lakh in FY 2007-08 & capitalise the Rs 82 Lakh.In FY he paid Rs.40 lakh & remaining Rs. 42 Lakh is carried as Creditors in Balance Sheet.
Now in FY the creditor is ready to accept Rs.32 Lakh ( or Rs.10 lakh Less).
How the accounting woul be done.
Should i show the asset At Rs 72 lakh and restate the accounts or should i show Rs. 10 lakh as other income in FY 2008-09 and pay tax on increased income.

Please reply with some case laws and Judgements on the facts

Sir,

Pls tell me what is the difference between contractor & sub contractor.

HUF has acquired a plot of land. Memorandum of Understaing is made between HUF & its Karta whereby HUF has approached Karta for construction of residential building on the said plot.

Terms & conditions of MOU are as follows ;

1.The expenses related to the Development of said Property shall be totally borne by the Karta.
2.Karta shall have right to sell the flats to the proposed buyers at a price to be decided in consultation with the HUF.
3.HUF in return shall shall part with 15% profit on sale proceeds of each flat as Development right to Karta
4.Karta has assigned all their rights, title or interest in the said plot.
5.Karta shall cease to have any matter of any rights, title or interest in the said plot.

Please suggest accounting in case of both i.e.HUF & Karta.

dear frinds,

please help me on this matter ,if a partnersip firms have a book profit for rs 6,05,000/- after depricition ,than how to calculate salary of partners.please advice me its urgent.