If a company receives payment from one of its creditors as a form of settlement and closure of accounts then what is the journal entry for the above transaction in the books of company?

Dear Sir/Madam

I want Know What is Bank Reconciliation Statement? Why Should we prepare this? and How to prepare Please let me know?

This is urgent requirement

Regards

my self and my spouse both are income tax assesses. in post office savings account my spouse name is as ist holder . i want to open PO MIS in my name.. My query is-
can i receive MIS interest in above savings account in which my spouse name is first ?
if yes , how can i show it in it return or
i have to open new ac in which my name is first holder to receive the MIS Interest
kindly tell me who is liable for tax in joint account if both are tax assesses ?

We have made imported the goods from italy through courier from DHL for which there is a custom duty plus handling charges of total amounting to 10140/- My query is that we have to reimburse this to DHL.. Can i make this payment through cash in single voucher...???

what will be the date of booking share capital in books of account? the date of incorporation or allotment of shares will be filed after incorporation for shares subscribed by first directors and members?

thanks in advance

Hi, I have deposited EMD for tender to supply machines. This deposit is refundable as per tender terms. Could you tell me what will be the accounting treatment for EMD deposited in books of accounts in case of Sole proprietorship trading business?

Dear Experts,
we have received an insurance claim from insurance company against insured asset loss. asset scrapped from books due loss of asset in previous year and claim received current year. we have not provided any claim provision due to we have not received any claim sanction letter from insurance company.

i request to experts to please advise an accounting entry for claim received from insurance company which we are not provided any provision in PY and received CY. we are constructing new asset in place of scrapped asset as new capital expenses.

Hi,

While preparing financial statement, I was confused regarding fees collected and paid, in receipt and payment I have shown fees received and paid, my query is fees revived and fully paid should be shown in income and expenditure or in balance sheet, please help

1. is ppf account safe in any bank including privte banks ?

2..presently which option is better for fix deposits ...banks or post office ?

Kindly provide me the format of company audit report for FY 2016-17.
Also suggest where to make report of Specified Bank notes in report

Kindly mail me :ravikabra74@gmail.com