Dear Sir,

We are following cash accounting system. We
do not maintain any balances of sundry debtors/sundry creditors. We book income/expensive as when is received/paid.My
question is if party ask for balance confirmation as 31/03/2009 and statement of account,what should I do?, should I give payment received/paid statement or statement of account(as per mercentile).

Please help.

We are exporter of utensils we have made invoice dated 31..03.09 but we have filed the shipping bill in april so please tell me in which month i will consider sale.

Thankyou so so much in advance

How we prepare a MIS Report if we have the Profit & Loss account of two consecutive month & management needs the performance of last month especially expenditure side.
is there any method specify

The closing Stock as on 31.03.08 was ascertained as physically counted. Thereafter sale retrun is received after 31.03.08 pertaining to sales made in the year 07-08.

An accountant adjusted the Sales Return against the Opening Stock of 1.04.08 however I am of the view that the Sales return should be adjusted against Closing STock Figure as on 31.03.08.

Pls. advie the correct treatment for Sales Return.

The closing Stock as on 31.03.08 was ascertained as physically counted. Thereafter sale retrun is received after 31.03.08 pertaining to sales made in the year 07-08.

An accountant adjusted the Sales Return against the Opening Stock of 1.04.08 however I am of the view that the Sales return should be adjusted against Closing STock Figure as on 31.03.08.

Pls. advie the correct treatment for Sales Return.

Which heads can taken for FBT. What its rate and its a/c entries.

Sir,

I have gone through a file in ''File Share'' in the name ''Depriciation '' for calculation of depriciation as per income tax.

This excel file is Mr. Amit Sharma.

Pls tell me should not there be ''Before September'' in place of ''After September'' and vice versa.

Pls guide me.

In case of companies, is there any complusion to use marcantile system of accounting and if yes then under which section of companies act it is allow to use???

Sir,

Given below the details of fixed assets for the F.Y 2008-09.
1. OPENING OF CAR ACCOUNT AS ON 01.04.08 RS. 540000/- ADDITION ON 02.04.08 690000.00 TOTAL OF CAR ACCOUNT AS ON 31.03.09 1230000.00

2.OPENING OF COMPUTER ACCOUNT AS ON 01.04.08 890000.00 ADDITION ON 1.10.08 140000.00 TOTAL AS ON 31.03.09 1030000.00

3. OPENING OF AIR CONDITIONER AS ON 01.04.08 170000.00 ADDITION ON 07.06.08 68000.00 TOTAL AS ON 31.03.09 238000.00

4. OFFICE BUILDING AS ON 31.03.09 2400000.00

PLS SEND ME THE DEPRICIATION ENTRIES AS PER INCOME TAX ACT AND AS WELL AS COMPANIES ACT.

PLS SEND ME THE DEPRICIATION ENTRIES AS ON 31.03.09 WHICH I SHOULD PASS IN THE BOOKS I.E AS PER INCOME TAX ACT OR COMPANIES ACT.

I SHALL BE HIGHLY OBLIGED TO YOU.

Sale is not A direct income ,than why it exists in trading A/C?