whom to use receipts & payments account ...


whom to use income & expenditure accounts



whom to use profit and loss accounts......please tell me ....

sir interest on IT Refund ....can we take under capital accounts....?

hi sir IT refund amount comes under capital account balance account...? please tell me sir

Why it is so called as profit and loss A/c neither than profit or loss A/c.Either profit or loss can be judged.

In case of Amalgamation in the nature of merger what should be the treatment for Security premium lying in the books of Transferor company. Whether it will be added to the security premium of the Transferee company or will it be adjusted with the reserves of the Transferee company?

A cheque for Rs500 received from Yuvraj & Co. was dishonoured and debited to Discount Account. Due to rectification of this error, net profit will be ?

In case of goods-in-transit, the following entry is passed:
Goods in transit Dr
To Creditors account

Next year, on actual receipt of such goods,
Purchases Dr
To Goods in transit

Such amount of goods-in-transit in includible in inventory as per Sch III of Companies Act 2013.

My query is that inclusion of goods-in-transit in closing inventory inflates inventory resulting in overstatement of profits. Does this not distort the "true and fair view" aspect?

Dear Sir we have POS terminal and we accept credit cards for sales what will be the accounting entry for this... Sale Amt 2000 Credit Card Commission @ 2℅ Bank A/c dr 1960 Bank commission dr 40 To sales 2000 is it a correct entry... :-)

Hi Experts,Suppose we are paying rent of 140000/- per month TDS should be done every month or it can be deducted in Feb 18 and Mar 18

Sir/Maam,
I have to give some amount to my two three friend which I borrowed from them in my sisters wedding. Total amount is around 3 Lacs. How can I re-pay then so that we all do not fetch any tax complication.

I got all the amount in cash from them