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harshit
This Query has 2 replies

This Query has 2 replies

our company have own land & develop that land to construct flats and sale to customers, i.e basic aim

now constructin started initial expenditure booked like

development authority charges
development soil investigation
development archtech fee
the above expenditure transferred to WIP account this was correct or not?

now construction expenditure like purchase of cement, metal, steel, sand all are booked under which head total 6 phases construction was started phase wise expenditure booked total expenditure first booked under WIP after that how the expenditure transferred to P& L Account and what is the procedure for revenue recognition?

please help sir- what is the accouting procedure and which expenditue goes to WIP and wich expenditure goes to P & L account?
please suggest me sir


maheshkulkarni
This Query has 2 replies

This Query has 2 replies

19 June 2008 at 18:06

Upfront interest

Dear Sir,

Please let me know what do you mean by upfront interest in terms of Export. The client has taken PC facility against the Export orders.
The banker charges this on receipt of the proceeds.

Secondly, another question is relating to the liquor business.
One person is having a license another is using that license for fixed fees for that license.
Now the other person has taken the license and is doing that business. how does the transactions be accounted under both ends as the bills are named under the person who is having the license originally.
Please mail me to maheshkulkarni29@gmail.com.
I thank in advance for this help.

Thanks,
Mahesh



CA.Aman Dugar
This Query has 8 replies

This Query has 8 replies

19 June 2008 at 13:41

Treatment of overbilling

A company billed a customer with higher amount.Income a/c as well as Debtor(Customer)A/c were posted with higher amount.2 years later the company realises the mistake.What should be the accounting treatment now?


Jaideep
This Query has 3 replies

This Query has 3 replies

19 June 2008 at 13:20

Excess amount of FBT Paid

Sir, In last FY we had paid the excess FBT pls tell the treatment for that in books. Whether that amount should be posted at Expenses account.


Hanmantu N.Sai
This Query has 2 replies

This Query has 2 replies

19 June 2008 at 12:31

Chitfund Accounting

Hi all
anyone can tell me how is the accounting treatment for investing money in chitfund? & also what will be the tax treatment for the same if income arised from this? And in which head of the income it is considered under the i-tax act 1961?


Aneesh Nair
This Query has 2 replies

This Query has 2 replies

19 June 2008 at 11:49

tds calculation

i just want to know that when we are deducting TDS (Exp. adertisement exp Rs 1000 and Service tax 123) we will deduct TDS on only Advertisement Exp or advetisemnt+service Tax


Aneesh Nair
This Query has 5 replies

This Query has 5 replies

19 June 2008 at 11:25

Ledger Scrutiny

please let me know how to scruity ledgers which account shows dr balance and which account cr balance


CA.Satinder Pal Singh
This Query has 5 replies

This Query has 5 replies

18 June 2008 at 15:39

Shortage of Cash

Cash is Short in the books and expenditure is there up to 4 lacs which was done from the personal account of director what r the sources keeping in view income tax act. unsecured loan etc. i can bring cash in the books


Devendra Singh
This Query has 3 replies

This Query has 3 replies

18 June 2008 at 14:10

differred tax accounting

I want to know all about differred tax,

from a to z and how it is calculated, and entries to be made in books


CA Rashi Agrawal
This Query has 3 replies

This Query has 3 replies

18 June 2008 at 13:29

TREATMENT OF PRELIMINARY EXP.

WHAT IS THE TREATMENT OF PRELIMINARY EXP. IN AN ELECTRICITY COMPANY AND HOW IT DIFFERES WITH BANKING COMPANY.?






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