if there is one invoice in which consulting fees and commission both are charged in a one bill .so forwarding letter and a2 and 15 ca and cb should be obtained separately for both payments or common documents for both the payments will do.

Year 2013-14

Plant & Machinery Opening. Value 3,00,000
New machine purchased Rs 5,00,000
added to Plant & Machinery and charged dep.

Note : No concept of block, by nature of asset, asset grouped likewise say Machinery in Machinery.

Year 2014-15

The machinery purchased last year costing Rs. 5,00,000 sold to 3 lacs and VAT collected and paid thereon

Now the problem is how to account for sale of new machine, it is to be deducted merely by Rs 3,00,000, then how to book for loss....

Please help

Respected Members,
My sir visited at foreign exhibition held in Dubai in May 2015. But payment for this exhibition is made in Jan 2015, since the amount involved is huge, i want to clarify, Whether this expense should be shown as prepaid expense in F.Y 2014-15 or not ? If yes,then on what basis??
please reply

Took a loan from HUF account and it transfer to company As Loan. Company Provide 10% Interest.Can i provide any Interest to HUF account??

Plz tell me the journal entries of following adjustments in the internal reconstruction 1. A member holding 100 equity shares of Rs 2 each opposed the scheme and his shares were taken over by a director on payment of Rs 1,000 as fixed by the court. 2.creditor =3,00,000, surrendered shares =2,70,000 Sundry creditors agree to reduce their claim by 20%in consideration of their getting shares of Rs 35,000 out of the surrendered equity shares.

hi friends, is it mandatory to comply with schedule 2 depreciation as per new companies act 2013 for the f.y 2014-15. if yes then I have a doubt regarding calculation of depreciation as per schedule 2. I.e. if a manufacturing plant has no of plant and machinery which were acquired during the different previous years. then how will we calculate depreciation..we have to do separate computation for every indivial assets...

hello i neeed to kno the exact meaning of intrinsic value...i m getting confuses between intrinsic value and market value.

If the residual value of an asset is 14 lacs and its WDV is 2 lakhs, what shall be the treatment of the residual value?? Also, The life of the asset is exhausted within this year. Please help me out.

Dear Sir / Madam / Friends,


Can U inform me that,
when a party is not going to receive money from debtors he/they will pass entry in his books of accounts.....(to adjust debtors in B/s.)
Bad debt a/c...Dr.
To Debtors a/c. "THEN"
what will be the entry in the books of accounts of opposite party for the same.(to adjust creditors in B/s.)??? (As now thy are now not going to give cash)

Pl z. replay soon.

hello,
i would like to know what will be the rate of depreciation in case of the items like spoons, forks, plates and other kitchen equipments?
and under which part of the depreciation schedule will it fall?

thanking you
Shreyas