In balance sheet on liablites side it is written "contra" against capital account balance.and a debit balance shown on asset side. I am not able to understand it.pls can u explain what this contra mean.

I HAVE TAKEN LOAN FROM PARTIES IN MY PROPRIETORSHIP FIRM.WHAT WILL BE THE ENTRY AND NARRATION FOR LOAN TAKEN. AFTER 6 month I HAVE CREDITED PARTIES ACCOUNT WITH INTEREST but not paid. What will be the entry and narration for credit of interest . Please reply urgently.

respected Sir,, how I make entry when our TDS receivable is 100 and after assessment we get 105 out of this 95 as a refund and 10 as interest on incometax. and in other case 100 as refund and 5 as interest on incometax.

Dear Sir/Madam,

There is a doubt regarding the exhibition of Preliminary Expenses Not written off in the Balance Sheet (under 'Non Current Assets' ).
One section of the auditors feel that as per the revised norms (Schedule VI), the Preliminary expenses should be written off totally in the first year itself and should not be shown in the Balance Sheet. So how to take it forward.

The pvt. ltd.co has changed method of depreciation from SLM to WDV for computer. How to disclose the same in notes to accounts and what is journal entry for the same. Suppose depreciation on computer as per SLM is Rs.87145 & as per WDV is Rs.316461.

Mr. X worked in a comapny from 1st May 2011 to April 2012 and his Basic Salary Rs. 7875,
HRA 3938,
Management Allwance 2187,
Reimbursement Allowance P.M.-3500.

Employers Contribution-Rs.945

If he withdraw PF after 1.5 years than How much will be the Total PF Balance including Interest?

whether to do any theory for Accounts ?? both group...IPCC Nov 2013

In my Company purchase office stationery from a particular party , Please help me, i can deduct TDS Or not from his bills.

1.what is the entry for provissional WIP?

2.after enter in provisional entry RA bill submitted to Client What is the journal Entry?

3.what is entry for Difference in Provission WIP and Submitted RA Bill Entry?

4.Client approved RA Bill Less than the provission and RA Bill? what is the entry?

Please explain in detailed about all the above mention issues and Overall WIP Concept.

can we book Bill of Entry for Import Purchase in Import party ledger is it correct. or we can book the Import purchase Bill which is given by party. please advice ...