A independent goverment body(formed under seperate act)has received non monetary grant in the form of depreciable assets from INGO amounting to Rs 10 lakhs. Rate of depreciation for such assets is 25%. Please advise me how to treat the above situation with journal entries under possible methods .

Purchase of cartridge need to debit computer maintenance or which exp's need to be debit ?

Can any help out by providing the procedure to change the status of cheque issued to cancelled in tally erp 9

what is provisional entry

i want to know how can manage of director loan, his personal expenses, etc. in our books. should i create a separate company in tally or show in director's loan accounts.

Respected Sir/Mam,
I am the student of ICAI writing this mail to basically ask and clear my doubt about single entry question asked in the recent paper of accountancy ( ref.- may 2014 IPCC).
The provision for tax in single entry is considered to be personal expense for properitory business. But in the current exam paper (may2014-IPCC ACCOUNTING)provision for tax,opening and closing balance is given and rate of tax is also given. But as per the solution given by institute , provision for tax is considered to be the business expense. So I am requesting you to give reply whether the treatment is correct or not? Is it a correct treatment?

Dear all ,

my concern has received a income tax refund of rs. 3000 (For Assessment year - 2013-14), so, what should be the accounting treatment / journal entries for this ?

How to accounted penal interest on fd .bank has reduced the said amount in interest and credited in the bank . but they are showing full amount in 26AS .
means
Interest on fd amount 64000
penal interest 4000
credited in bank 60000

but in 26 as showing full 64000
how will i show this entry in books of accounts
Please help me out

We are supplying the gold potassium cyanide to the job worker for doing the gold plating panels required for printed circuit board. We are receiving gold plating panels without any invoice for job work.

Query - We need to make GRN. Whether we need to put any value or not

A pvt ltd company incorporated in F Y 2013-14 developing a type of intangible assets for sale in the ordinary course of business. Its a type of software used in a particular industry. Once it is developed it can be sold for any number of times like tally, winman etc. only renewal or updation is required.In the FY 2013-14 the company is in the process of developing the particular software. The sale comes only on next F Y.

My question is what is the treatment of cost incurred for developing the software up to 31-03-2014 in the financial statements as on 31-03-2014, whether it is treated as Work in process or not