Process of consolidation of Asssociates

i) First year Associated company incurred losses. let 30,00,000
and
ii) Second year company incurred profits. let 70,00,000
iii) there no concept of pre acquisition profits since investment (let 3,00,00,000) made immediately after incorporation.

How Consolidation do for 2nd year

When the bad debts are recovered, the seller enters the journal entry as Cash a/c dr
To Bad debts Recr
My question is what will the buyer enter in his books of accounts for the above situation. Please tell with explanation.

Dear All,

This is my general query to all, pls tell about eligibility of Input Tax Credit. In any business which I T C can be taken or which is related to only business.

thanks

I received Cash and cheque as fees in school. Can i make one slip or make two slip. its possible or not
Please help
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What is the relevance of "ASs are intended to apply only to items which are material"??

Sir,
Laptop battery,mouse etc purchased by a website development company... can we treat it as part of ASSETS or charged to P&L account as part of REPAIR&MAINTENANCE?

Dear Sir,
My self Anil I want to trained my self for Accounts section of School.
--
Regards
Anil

Hello
In our Balance Sheet (Partnership Firm) for year ending 16-17, we mentioned Provision for Income Tax 16-17 as : 10,833.86,
and advance tax paid was 22,000/-.

IT return was submitted first week of August 17 after paying self assessment of 14440/-

Now I am doing entry in tally today, how will I do the above entries? I got the order last week with a refund of Rs.3/- They have charged interest of 686/-

Please help.
Thanks

If in purchase invoice , it is written as
Total. : 600000
(+) Freight advance : 10000
Grand total. : 610000
( This is the purchase invoice )
My query is that in p/l we will transfer 610000 to purchases or only 600000 ??

In a case accountant missed some purchases of year 2015-16, but now at the time of party reconciliation these purchases noticed. How can we recorded that purchases in the current year.