if stock had sent for further processing how you value the stock as on balance sheet date? accounting standard 2 doesnt say something about this. Is it necessary that on balance sheet date stock should be luying in business premises.(please explain with an example)

THERE IS Majore difference in Opening Balance between Party & Company Ledger for the F.Y.2007-08 Like :-

In Party Account :- Our Balance is DR. 47,000/- Somthing

In Company Account :- Party Balance is CR. 4,00,000/- Something.

The Problem is we submitted our Income tax return for the A.Y.07-08 [F.Y.06-07]

Now what should We do for matching the Balance

THERE IS Majore difference in Opening Balance between Party & Company Ledger for the F.Y.2007-08 Like :-

In Party Account :- Our Balance is DR. 47,000/- Somthing

In Company Account :- Party Balance is CR. 4,00,000/- Something.

The Problem is we submitted our Income tax return for the A.Y.07-08 [F.Y.06-07]

Now what should We do for matching the Balance

Hi,

Can any plese let me know the clear diff of Jointly control entity
And Jointly control Operations.

Rgds,

Suneel

Hi,

Can any plese let me know the clear diff of Jointly control entity
And Jointly control Operations.

Rgds,

Suneel

FROM WHICH DATE THE LIMIT OF 500 TO 5000 HAS BEEN INCREASED IN SENCE OF CASH PAYMENT UNDER INDIAN STAMP ACT ON WHICH WE HAVE TO ATTACH I RS STAMP DUTY

deferred tax liablity to be calculated on clg wdv of assets of last year and deducted from profits if DTL is created for first time .


my question is so how to calculate DTL from second year . on clg bal of wdv of assets or on depritiation amount creating timing difference .?????????????????

awaiting for best reply kindly keep query open till solved .

If 1 partner Mr.X retires from Firm having 3 partners. Total capital of Mr.X in firm is 10 lacks, but on retirement Firm pays him Rs. 11 lacks.Whether Rs. 1 lack can be treated as Goodwill as per Accounting Standard and shown under fixed asset in Balance Sheet ( as this is Goodwill for which firm has paid ) or will be considerd as Internally generated goodwill

A proprietor's capital a/c must be a credit balance.It was so in one of our client's case.But, after claiming additional depreciation the capital balance becomes a debit balance.Now,what are the ways of making it a credit balance except for introducing cash and reducing exp. other than deprecition?

can 1 property be mortgaged with more than 1 banks ?
Can colletarel security be mortgaged with other bank if it was already mortgaged with one of the banks ?