i have received one bill for prepaid insurance for rs/12000.00 for jan to dec but it is paid 12000 and we have passed jv entry also but we need to close books in march do we need to pass any reactification entry and what will be entry for the above jv please tell me immeditely

Dear all, Please tell me that under which head does a "gas stove" used in a canteen maintained for itself by a automobile manufacturing company comes under ? Thanks in advance

Can a debtor be written off if it is under arbritation or under litigation for 6 years (Decision is pending of the court).
Please reply as soon as possible.

ours is a company which has received a proforma invoice from another Co.towards rendering of training charges of rs.72090/-plus service tax of Rs.8910/- 7 gross bill amt is Rs.81000/-.my query is what J.Entries are to be passed here on its initial advance payment & at the time of booking of expenditure on receipt of tax invoice & at what rate TDS is to be deducted & on which amount.whether it is on Rs.72090/- or Rs.81000/- at the time of initial advance payment

hlo sir i have cleared cpt with 147 marks but i am confused that i should immidiately go for ipcc or wait for 1 year because syllabus of bcom 2 and ipccis little same . i also wanted to know that it would be benificial to give both the groups at same attempt or seperately thanks

Hello,

I just want to confirm that if suppose an entity is following the block of assets system of accounting & particular asset belonging to a block is sold over & above its wdv but later on the another asset belonging to the same block is purchased then whether capital gain arising on 1 st transfer of assets should be trf to profit & loss account or will remain under the same block..

i have received on bill from house keeping and made entry for the above inv as below


debit expense
debit service tax 12.36

credit vendor
credit tds 2%
debit vendor

anyone can explain how account are effecting in prfit loss account and blance and explain each account how affeted in financel statment

even i checked complete day as well as ledger book also but i did'nt foun any mistakes...so can u tell me the any another ways to tally the trail balance

Due to the changes in depreciation provision as per schedule II, how to calculate the depreciation on the basis of useful life as my company previously using the slm rate and not the useful life for calculating depreciation and also not maintaining any fixed assets register.

and also how to prepare the fixed assets register.

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?