Can anyone solve this problem.it's urgent.P/L and B/S is needed.The question is related to jointly controlled asset.

The trial balance of H Ltd is given below as on 31-03-08

Debit balance Rs(lakhs) Credit balance
Rs(Lakhs)

opening stock 178 sales 1975


purchases 1400 share capital 1000


operating cost 200 P/L (31-03-07) 675

Depreciation 210 10% debuntures 600

Interest 60 Creditors 150

INVESTMENT in S Ltd 372 TOTAL 4400

Suspense Account 150

Fixed Assets 1540

Debtors 225

Bank 25

TOTAL 4400

Value of closing stock of HLtd is 183 lakhs. On 01-04-07 H Ltd purchased a plant jointly with J Ltd . They agreed to share cost of plant 500 lakshs, annual operating cost and output of the plant equally . Suppliers of the plant agreed to accept 60% of price immediately .The balance is payable in four equal instalments together with 10% interest per year .Beginning from 31-03-08 the of depreciation on plant is 12%.The balance of suspense account represent

Particulars Rs(Lakhs) Rs(Lakhs)

Output of joint 200
plant sold (50 units
at 4 lakhs each)

Purchased material for
joint plant 135

Payment to plant supplier 185

operating cost for joint
plant 30

Balance of Suspense 150
TOTAL 350 350

JLtd purchased materials Rs 123 lakshs for joint plant.Operating cost incurred by J Ltd 26 lakshs.sales 200 lakshs, total output of the plant110 units.Preparep/L account for the year ended 31-03-08 and B/S as on that data including the effect of joint venture transactions.

what is din number?

Hi,

I have query as below details

As per 12 year agreement between ABC company (Land lord) and XYZ company , XYZ paid to rent to ABC every month of Rs 8 Lac PM.

as pr agreement XYZ company has to renovation of building work for civil and interiors work of Rs 5 Cr. for Capital Expenditure.

My query is : the above details is on rent on building, so XYZ company has to book the Fixed Asset ?

if book fixed Asset which head to be book as per Income tax Act

Please help..

Regards
Anirudh

Sir,
I am confused with salary payment entry
eg. if gross salary rs.7500/- PT 175/- EPF 900/-
one of my friend told me that you should show the PT amount received in cash from employee and Dr salary a/c by Rs.6425/- and show payment of PT and PF separately.
if this is correct??
Please help
Thanks

entry for refund of income tax paid excess in the business.

Sir,
In which account head Gomashta renewal cash paymenty would be included

A) Figures relating to FY 2011-12
1) Depreciation as per Companies Act Rs. 50 lakhs

2) Depreciation as per Income Tax Rs. 100 lakhs

B) Figures relating to FY 2012-13
1) Depreciation as per Companies Act Rs. 40 lakhs
2) Depreciation as per Income Tax Rs. 80 lakhs

The company did not recognised DTL on Rs. 50 lakhs (100-50)in its audited financial of FY 2011-12

What would be the DTL in the Financials of FY 2012-13?
Should it be calculated on Rs.40 Lakhs (80-40) or on Rs. 90 lakhs (180-90)?

can you tell me how to calculate book value in case of private company
and also weather security premium is over and above face value or book value

I am facing a case where the Annual Accounts of a Company has been finalized, audited and filed with the respective authorities (like ROC, IT, etc).

After a few months, certain changes in the audited accounts were suggested pertaining to total omission of certain entries being recorded in the books of acocunts.

What will be consequences of the same.

Please help.

Thanks in advance.

I made d payment of TDS ON RENT for sep in oct and by mistake paid the same in november also, though I dnt have any liability in october. . nw what all are the measures available to me so that I can use the advance payment undr 194 I. . can I use the same agnst any other section? can I cary forward d same ? can I apply to AO for change in section from 194I to 194C and adjust accordingly, if yes then in what time... I paid d same on 06.11.13??