A company purchased debentures and when the same were redeemed, the company received premium on redemption of same.

Please advise how premium should be accounted for whether it is in nature of interest or profit.

The receipt of R300 000 form a customer in April 2013 was not allocated to the relevant general eldger account during the year .(It appears on the bank statement only) .The year end is 30 June 2013 .

What are the correct entries to process in order to bring this into our books for the 30 June 2013 financial statements?

The accounting system is still open to process entries that relates to 30 June 2013 fnancial year.

Dear Sir, I m failed in ipcc exam..!! I don't knw where I m wrong exactly..!! Ppl r getting exemption in accounts..I m not even getting passing marks...I was previously science student...IPCC accounts screwing me badly...I need help...pls help me for this topic...NPO , partnership, single entry , investment accounts...I just can't do...and where I studied they useless they just give lectures and leave classroom...m tensed...!! :( :(

Hello all of you iam not able to understand meaning of paragraph in inverted comma.please try give its meaning and accounting treatment
F,G and K were partner sharing profit and losses at 2:2:1 .K retires on 31-12-2000.

"for this F & G agree to bring sufficient cash to discharge claim of K and make their capital proportionate"

We want to install a ERP Software in our Company. The Party issued a quotation for the same on 31.3.2013. We start installation on May'13.

Could I take provision for the expenses as on 31.03.13 and charged the Depreciation for the same? If so, at what rate ?

Need advice at earliest.

sir,
at the year we pass some of the adjusting entries like for salaries, outstanding expenses incomes, prepaid expenses etc.

Do we reverse all the adjusting entries on the starting of the next year or only few.

i think we dont reverse the salaries due entry.

please answer its urgent.

thanks in advance

sir /madam
i wish to get my ipcc advanced a/c paper revalued .i need 11 more marks to get through the exam .but my friend is saying there is no use of revaluation .i just wish to know do students really benfit out of revaluation if there is genuine reason of revaluation if yes can i get benfir of really 11 marks
pls help me

Please provide the valuation method of imported fixed asset with reference to AS-10 and AS-11.

Please clarify the following:

If a partner in a partnership firm introduces items of Inventory as Capital, then how the same should be accounted in Tally (so as to give effect of inventory)?

Ex. If a partner brings in his personal gold as a capital in partnership firm which is into the Jewellery business, then how the same should be accounted in Tally + Inventory Master?

Dear Sir,

I shall be thankful if you could reply on the following:

I want to know the standard industry practice for defining the useful life of various tangible assets.ie the no of years of estimated useful life chart of these assets which may include scientific equipments for research purposes.Soliciting your earliest reply.

Thanks and regards
Savary Flaaubert Francis
email ID:francisssf@yahoo.co.in l