In this ques in takeover entry
Deb are taken at RV=115000
But creditors at 300000
Shouldnt they be recorded at 3 lac - payment 1 lac = 2 lac (RV)

Ques wording as follows:
Deb holders in reckless ltd are to receive 6% debentures of face value 115000. Careful ltd will issue to the shareholders additional 20000 shares of ₹20 each. These shares are fully subscribed & out of the sum received 100000 is paid to creditors.

B/s value deb : 200000
Creditors : 300000

We have paid Rs4800/- towards room rent and food expense of 1 Board member which comes for the board meeting. on which head we can expense the same .Thanks

is IND AS applicable for may16 if no then what are the changes in the AS

Dear Experts,

1)
If we pay certain costs like electricity, telephone, internet etc of Employees House then those costs needs to be debited to respective head of expenses or to salary account as perquisites.

Is the answer will be same - If the bill is in Company's name or in employee's personal name ?

2)
Finance Cost under Schedule VI covers Credit Card and Bank Charges ?

3)
"Heat, light and power" HEAD under schedule VI covers Petrol Used in Cars for Delivery of Products to customers and also Directors' Car Petrol Charges ?

PLEASE CONFIRM.

THANKS

REGARDS

what is meaning of encashment??

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I am looking for a practice that is currently being followed by traders.

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