If an asset purchased in previous year, and sold in mid of the current year in profit.
So My question is the sale of asset is shown in PL or what about profit and depreciation how it is adjusted?

Please advise the rules and guidelines for capitalisation of expenses related to B2B exhibitions. We have our own brand and participate in National and International B2B exhibitions.

Regards,
Charu

FIXED ASSETS:

As per companies Act 2013 , it is said that we have deduct the residual value from the carrying cost and adjust the remaining balance with the retained earnings as on the opening date(i.e 1.04.2014)(if the asset has been already used more than new estimated life of PARTC Schedule 2) . Hence my question is how do we account for the residual value of the asset in books, when the book value of such assets have been reduced to NIL.

Dear expert
please let me know how to pass depreciation entry in company's books of accounts...


plz reply...

Hi,
I am a Nov 2015 C.A. Final student. I had a query regarding applicability of IndAS for Nov 2015 attempt pursuant to notification of MCA on 1st April, 2015.
Further if IndAS is applicable then AS that is applicable now will still be covered in the final portion.
Thank you.

why goodwill is calculated when new partner admits

Anyone can explain MAT.

Interest on debentures is shown as non-cash item in operating activity and also shown as financing outflow but one sided it is added and another side subtracted , so the final effect is NULL so we r not getting exact estimate , any concept behind this.

we are not filed audited bsheet a/y 2013-14, 2014-15 till now. what kind of penalty proceedings on this.my turnover around 1 crore in every year.

Goodevening everyone,
My query is suppose Mr X had made a sale of Rs 5000 and the party has paid the amount after transfer charges i.e., 4950 ( Rs.50 for NEFT). what should be the treatment of this transaction?