Guest
This Query has 3 replies

This Query has 3 replies

Dear Friends
What would be the entry of loan taken against FDR and closure of that loan account after one year?

Thank You



Anonymous
This Query has 1 replies

This Query has 1 replies

14 September 2016 at 14:02

Accounting for societies

A society in Maharashtra is registered under both Societies Registration Act & also The Bombay Public Trust Act, it has to maintain accounts as per which Act:
1. The Societies Registration Act or
2. Bombay public Trust, 1950???


manish chaubey
This Query has 5 replies

This Query has 5 replies

14 September 2016 at 13:01

Adjustment entry

If I am unable to find that cheque kisse aya hai to kya kare


Anmol Chugh
This Query has 3 replies

This Query has 3 replies

14 September 2016 at 12:39

Accountin g treatment of shares

Dear Experts i had purchased 500 shares of value 200 rs each and i i show them as investments in my balance sheet...i have a query that if the price of a share at the ending date of my balance sheet changes to 500 should i value them at 500rs or rs.200? please help.


Patel Ishan Mahendrakumar
This Query has 1 replies

This Query has 1 replies

13 September 2016 at 15:44

Foreign receipt

QUESTION: I have sold goods in foreign. Please guide me.
EXPORT SALE (IN USD) 34,150.00
SHIPPING BILL RATE Rs. 66.40
REALISED (USD) 34,093.00
REALISATION RATE Rs. 67.14
FOREIGN BANK CHARGES (USD) 57.00
INCOME FROM FOREIGN EXCH. FL Rs.0.74

FOR ABOVE SALE WHICH OPTION IS RIGHT FROM BELOW TWO OPTIONS AT THE TIME OF RECEIPT?

OPTION (I)
PARTY (34150*66.40) CR 22,67,560.00
BANK (34093*67.14) DR 22,89,004.02
BANK CHARGES (57*66.40) DR 3,784.80
INCOME FROM FEF (34093*0.74) CR 25,228.82
TOTAL 22,92,788.82 22,92,788.82

OPTION (II)
PARTY (34150*66.40) CR 22,67,560.00
BANK (34093*67.14) DR 22,89,004.02
BANK CHARGES (57*67.14) DR 3,826.98
INCOME FROM FEF (34150*0.74) CR 25,271.00
TOTAL 22,92,831.00 22,92,831.00


ajit kumar jain
This Query has 1 replies

This Query has 1 replies

13 September 2016 at 13:42

Revaluation of assets

x company revalued the land & building say for rs. 500 the boook value before revaluation was say rs. 250.

Now the assets is sold for rs. 400 .

So my question is whether rs. 100 capital loss can be adjusted with the revaluation reserve. If so what would be journal entries.Here the entire revalued assets is sold .


G LAKSHMI KANTHA
This Query has 1 replies

This Query has 1 replies

13 September 2016 at 12:47

Profit on sale of rural agricultural land

A Private Limited company having rural agricultural lands (fixed asset and not stock in trade) and portion of the said agricultural land was acquired by Govt. and paid compensation. Rural agricultural land not being a capital asset as defined u/s 2(14) of the Act, the capital gain arises on transfer of said land is not taxable u/s 45 of the Act. How to account for the same in books of account of the company in view of MAT u/s 115JB of the Act.


PRATIKSHA
This Query has 5 replies

This Query has 5 replies

12 September 2016 at 18:06

Transfer premium of housing societies

Transfer premium received by housing societies shall be considered as balance sheet item or income and expenditure item ???


capooja
This Query has 2 replies

This Query has 2 replies

12 September 2016 at 12:56

imprest and non imprest system

please tell me what is petty cash imprest and non imprest system (with the suitable example ) and also how to verify petty cash during audit with the help of these system.



Anonymous
This Query has 1 replies

This Query has 1 replies

09 September 2016 at 23:56

Accrued interest

one company had purchased a policy for leave encashment and retirement benefit policy . Every year company has made payment/ deposit the fund for above policy after adjusting of interest and at the end of the year LIC has credit the interest in the policy as per their deposit fund. This company has treated interest amount in the profit and loss as other income and other hand mentioned as expenditure. based on the treatment company has to pay income tax as per applicable rate. in this case my opinion need not to disclosed as other income as the amount not received in my account. please suggest what will be correct treatment.






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