Hi experts

ABC Ltd. raised an invoice for Rs. 10,000/- on XYZ (firm-Franchisee of ABC Ltd) and XYZ need not to pay this amount to ABC Ltd as per policy.
Further, XYZ firm is also providing free services for the same amount to its customer ie: Rs. 10,000/-

What accounting entries should be passed in the books of XYZ firm.

Pl. explain the same with reasons to clear my doubts

Thanks

hello, experts!

my question is

I bought an agriculture land suppose for rs 700000 but till next year I pay only rs 500000.
than what will be value of such land in the balance sheet?

Small business not under audit. Not having TIN number also purchases are fully exempted can avail purchase as their expence in Profit and Loss Account

Dear Sir,
some vendors are giving printed bills e.g. ABC enterprise and when we ask them to pay by cheque they are asking to issue cheque in favour of any person name. Is it allowable from accounts and income tax point of view. I suppose that cheque should be issued in favour of what printed on letter head of bill and not on individual name except in cases of propreitorship. please reply
thanks in advance. quote income tax sections if possible

Dear Sir
We are Provided job work in pvt ltd co and our services turnover 25 Lac in a financial year
then we will need for GST regestration .

Hello I have appeared in CA final November 2016 exam. it was my 5th attempt, I am confident of clearing this time. I want to work in a big four company after qualifying, considering the number of attempts I took, will I get job in a big four? what additional qualification will be helpful for me in getting job?What preparation shall I do in this 1 month before result? please guide me.

dear sir,
below EPF annual statement during the F,Y,15-16 of an employee plz guide me what should be amount comes in balance sheet in investment head as ITR purpose .
O/balance employee 2000/-
O/balance employer 500/-
interest employee 200/-
interest employer 100/-
contrbn.employee 4000/-
contrbn.employer 3300/-
C/balance employee 6200/-
C/balance employer 3900/-

What would be the journal entries for expenses incurred on hotels and lodging for bank branch audit which is reimbursed?

Dear Experts,

Our company has purchased 2 swipe (pos machine). What would be accounting entry for this. swipe machine comes under fixed assest or not.

Please guide me .

if our company purchased a pump machine. which one is benefited for company point of view , take to fixed assets account or direct debited to p/l account