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Machine Purchase for Cash 4000 and Installation Charges paid 1000. Complete Journal Entry?
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A Co has got some advances from some of their clients - but ultimately such deal has not been finalized & as per the terms such clients also has not demanded the advance amount back - presently such amounts are shown as advance from clients in to the Balance Sheet - now there is no chance of refunding such amount & also no sale will be booked - then what to do, the amount is a sizable amount in comparison with the Sale of the Co.
Pls Advise
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Dear Expert,
Please help me with depreciation part while preparing balance sheet. Till time our company has been providing depreciation as per old companies act. Now they want to switch to new companies act'13.
1. Is it ok to now switch to companies act 2013 for new rates, new useful life etc?
2. Can you please provide any excel which shows how to calculate depreciation as per co. act 2013
3. Can we take rates as per the schedule or do we actually need to check remaining useful asset life and then re calculate rates.
Please explain how companies in general prepare depreciation schedule.
This Query has 4 replies
journal entry of geting cash discount while making payment to creditors?
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Our society given a studio to take the function photographs with print. The charge is Rs.2000/- I can account the expense in Office Expense or any other .....? Thanks
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Dear Expert, please tell me if I am receiving some bills of March'16 today in Aug'16, how do I book. Should i book in March and deduct TDS and deposit with interest? These are shipping line bills.
This Query has 2 replies
A company has Rs 25 lac DTA balance as on 31-3-15. Current year there is DTA on account of current depreciation 2 lac and DTL on account of reversing of timing differences (43 B)items of Rs 5 lacs. Quries are:
1) Can the current DTA (rs 2 lac) be set off against current DTL (5 Lac) and the net computation for the year be shown at DTL 3 lac
2) Can this Net DTL of 3lac (or any other amount) be adjusted against opening DTA of Rs. 25 Lac.
3) Further, as there is total uncertainty about future earnings of the company, should the balance in DTA (Be it 25 lac as it is OR 22 (25-3) lac) be charged to the P&L of the current years.
Please reply in detail..
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I wanted to know the legal and compliance requirements to start a cafe shop in Mumbai.. can any one give me detailed list of licenses and registrations required for starting a cafe shop.. it is very urgent if someone can help me in that..
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