what is difference between cost center and cost category with examples ?

I have a very basic question. As the price of listed companies share keeps on changing every now and then, will there be any affect in the books of accounts?? I mean whether they pass any entries for the changes in price at the end of the day?

My client got a prize of Motor Car in housie at Club. To claim the Prize he has to pay all Government taxes. He has paid Rs. 4.25 Lacs to the club as various taxes. He is ready yo show housie prize as Income from other sources and pay @30% tax. But he wants to claim depreciation on full amount of car instead of Rs. 4.25 Lacs taxes amount bear by him. Can he do so? Please clarify with reason. I also insist all to refer Section 43 (1) of the Income tac act before posting their reply.

Dear Friends



A sells goods to B for 100000 on 1-4-15. A gives B credit period of 10 days. If B doesnt make payment within 10 days A charges B interest @ 24% per annum.



On 25-4-15 B makes payment of Rs. 80000. He aint paying anything more.



A is loosing out on rest of Rs. 20000 plus interest he would have earned had B made full payment with interest for delayed payment.



what will be entries in books of A and B, full entries from beginning till end.



thanks



shivani

1)THE LONG TERM BORROWINGS HAS BEEN CONVERTED INTO SHARE CAPITAL BY PASSING A JOURNAL ENTRY AND HAS ALSO COMPLIED WITH ALL ROC REQUIREMENTS, DOES THIS TRANSACTION EFFECT CASH FLOW STATEMENTS?

2)AS PER COMPANIES ACT 2013,SOME OF THE ASSETS HAS BEEN WRITTEN OFF AND ROUTED THROUGH RESERVE FUND,BY PASSING A JOURNAL ENTRY,DOES THIS EFFECT CASH FLOW STATEMENTS?

Request your suggestions..

What will be accounting treatment of Advance Received against the service to be rendered and at the time of the invoice generation? For Example :- 30/12/2015 :- Received advance Rs 100000 02/02/2016 :- Service Rendered Thanks in advance

We are four friends who had started a small coaching this year in May. We have still not registered it so its technically not A LEGAL ENTITY.
All the four invested equal amounts for setup which included deposit amounts and rents, assets such as chairs and other expenses made to start the coaching.
Yet, after a few months of operations, two of the partners have to leave, due to their personal reasons. So we decided to distribute all earnings made till then equally (inc amount earned as well as deposits that we got back as well as any amount from sale of assets). In the end, there was a loss of 2500 each.
Now, Two of us have started tutions at my home. I would like to know if we are liable to pay the other two the amount that they lost in the process?
Although its not a legal entity, i would like to know how it would work if it was one.
Please do throw some light on how incomes and losses are divided.

if acompany have PBT of -4032.5 and tax rate is 33% what should be its PAT

Dear All,
We planing to open one new company (partnership firm)
we are buying ciger from india and usa then selling to customber.
please let me knw what are the document requied for registation abt accouns
thank in advance