Dear Sir,

As per books value of stock is Rs.2 Lakh but physically we have no stock, in our production process material is burn and its invisuable loss since FY-2006 to FY-18-19 we have not passed burning loss entries in our books now we want to passed JV in fy-19-20 so please tell me how to pass journal entries. In accounting software ( Tally ) we maintain only account not inventory.

In our co. when co's current a/c not open that time all partner put money in one partner SB A/c and form this a/c they make payment regarding the same, I have some below query?
1) Partner Y, Partner Z transfer money to Partner X Saving bank a/c ....... what will be the entry?
2) Partner X paid expenses from their Saving Bank a/c for business ... what will be the entry?
3) All remaining 5 partners transfer 10,000/- each to Partner X (Active Partner) Saving Bank a/c towards Salary ..... what will be the entry?

SIR
We are the manufacturing unit in leased premises and we agreed to share the expenses commonly with the lessor in some particular cases.In a transaction of store purchase, We bought some items in stores in our own name and accounted it. Now Our management has decided to invoice the store materials which was purchased to the Lessor.

When we make invoice on the Lessor, what are the conditions to be applied ?
(Here the address is same for both the lessor and lessee.
No Vehicle Number Cannot be used here.
As such clearance only).

KINDLY ADVISE ME PLEASE

what is the treatment of "' Addition to fixed assets and depreciation '' in a Non Profit Organization. kindly answer with the reference of Act or specific law.

Sir,
1. If an asset Purchased on March in the Financial year What will be the chargeable Depreciation as per companies Act 2013.
2. If an second hand asset Purchased during the Financial Year what will be the useful life if the remaining useful life is nil

SIR

Freight paid by cash on behalf of the seller can be adjusted with the credit invoice by issuing debit note?



Thanks and Regards,
SANKAR

Ours is pvt ltd company. There was a delay in payment of esi contribution for Apr'12 to Jul'12 & Apr'15 for which an interest amount of Rs.1912 has been incurred till date. We want to pay the same. What would be the journal entry for payment of the same.

Very few suppliers cheque issued and not presented before the expiry of validity. We understand from the suppliers that they have not received the cheque and it was lost in transit. Normally , we have the practice of getting Indemnity bond from the supplier with the company seal and signature and issue a fresh cheque.

But some suppliers arguing that cheque was not presented before expiry and fresh cheque to be issued without asking indemnity bond .

We request expert opinion whether issue of cheque without indemnity bond for expired cheque & not received by the company is legally correct and also accounting point of view also

Dear Sir/Mam

Taxi Service for travelling expenses TDS will be applicable?

Dear Sir/Mam

My vendor is sole proprietor of his concern for TDS he linked his PAN only, in this case what is the TDS percentage we need to deduct from his bill and pay