please explain bank overdraft and cc limit in practical manner ?

what entry to be passed to set off the losses of previous years in books of accounts, details given hereunder-

Income less expenses in a year INR 1500000
(3500000-2000000)

Losses for preceeding 6 Years :- 12,00,000/-
Net Profit for the year after set. off losses :- 3,00,000/-

Please resolve this doubt..

what is statutory reserve as per sec.17 of the Banking Regulation act 1949???

what is money at call and short note???

Hi.. My client holds share and mutual fund and it is traded as short term investment. My query is whether the shares and mutual fund are to be revaluated to market price by passing profit or loss on revaluation entry. If yes.. is this entry to be reversed in the yrar begining to show the cost in the books ir it will be carried at market price itself.. Pls reply soon... Thanks in advance..

Dear Sir,

I am handling account which a function hall

Question
1.they reg. with luxury tax
2. if some one book the hall Pay advance 7000.00 How should i take that entry in which head of account of tally
3.when actual bill raise at the time of function including the luxury tax (to pay the tax ) How should i take that entry in which head of account of tally

They need the Receipt and payment format statement during year only

if an amount is given for electrical repairs, to which head head of account this should be taken.

please let me know,,in which account is sale of office drawers taken into account.
our company had some drawers in office,,so they sold them and got cash..

my company purchased 2 mobile phones worth Rs. 2700 each and given to 2 employees for office purpose..can someone let me know to which head of accounts it should be taken

Sir

I want to ask , if any accounting entry either expense or income of last year was left out after audited Balance sheet , How to accommodate same in current year?.

If it is prior period expense in current year , How to show it , please give an example.

Thanks in advance .