if on the balance sheet date, valuation of stock is made AT COST.
DOES IT AMOUNTS TO BREACH OF MERCANTILE SYSTEM OF ACCOUNTING?
DOES AS-IT PROVIDES THAT VALUATION OF CLOSING STOCK MUST BE AT COST OR NET REALISABLE VALUE WHICH EVER IS LOWER?

As per requirement of company law, balance sheet must show the term loan in two parts:
1) Term loan portion which is repayable within next twelve months and
2) Term loan payable beyond 12 months

Now my query is
How to calculate the amount of loan repayable within next twelve months if I do not have loan repayment schedule with detailed interest calculation.

Some times loan installment is not fixed (specially in case of loan from nationalized banks), in that case how can I determine the amount which is due in next 12 months

Kindly resolve the query at the earliest.

Dear Sir,
how to maintain manufacturing ccounts for the co.? i.e finished good , wip ledger under which head it should be come ?

Hi,

our company reimburse medical expenses in cash to the employee. Should I book this amount under 'Salary Account' or 'Medical expenses'

Dear friends, purchase of plant & mach for rs 5lac and transpot charges 20000, installation chargs 10000 and insurance paid for 1 year, wht is the asset cost and insurance treatment here.

Dear experts,

A Company has 3 bills of forwarding charges from ABC & Co for Rs. 10000 in April-13, for Rs.30000 in may-13 and in march-14 for Rs. 10000. Whether should i deduct TDS ? If yes how should i deduct ?

Please suggest me ASAP.

In which form do we file service tax return

Hello Everyone,

Machinery purchased for Rs. 3 lacs. Depreciation 12 percent on WDV method?What would be the journal entry for depreciation.

Labour charges incurred Rs.10,000 which is paid to Mr.singh the contractor.what will be the journal entry for the transaction and the TDS amount and the section?

I am working in a publishing house and our company purchased some CD's from another company and we received a tax invoice against purchase of CD's. Can we claim input tax credit or not. If purchasing of CD's is expenses than what is the head of this expense.