I PURCHASED 2 ASSET
1) ASSET 1 ( CHAIR ) FOR WHICH PAYMENT WAS MADE BY ME USING CREDIT CARD RS.13000/- PLUS INT RS.2000/- ASSET IS USED BY ME IN MY BUSINESS
2) ASSET 2 ( TABLE ) FOR WHICH PAYMENT IS MADE BY ME USING CREDIT CARD RS. 20000/- PLUS INT RS. 5000/- BUT THE ASSET IS USED BY SOMEONE ELSE
FOR BOTH THE ASSET I GOT REIMBURSEMENT FROM MY COMPANY RS.33000/-
WHAT WILL BE JOURNAL ENTRY FOR THIS IN MY BOOKS

Do we have to fair value the fixed deposits with banks as per Ind AS?

Please advice if there is any recovery from employee as per company policy for trainning cost what should be the accounting entry?

Why,
Fair value= Price receivable- Transportation cost( in case of principle market)
Fair value= Price Reveivable- Transaction cost- Transportation cost ( in case of most advantageous market) ?
Logic behind two different formulas?

Respt Sir
During FY 21-22 firm purchased 1000 units of x item @ 80 Rs per unit ie total 80000 and sold 600 item @ 160 per unit during same FY, closing stock of 400units carried forward for next FY year ie 2022-23 valued at 40000
In FY 2022-23 firm sold 100 units @ 100 Rs per unit and balance 300 units valued at 30000 as closing stock
now in FY 22-23 firms inventory turn over ratio = 0.28 which is less than 1 so whether do discontinued such item to buy being turnover ration is less than 1
Inventory Turnover ratio = COGS/Ave Stock
please guide

Sir,
A registered dealer selling of goods transaction to b2c customers only.
Cash sales and sale through on Google/paytam two types
Question:
Dealer cash sales and sale through on Google/paytam transactions total consilated amount entry passed end of month in books correct procedure.

Dear Sir,

We made repairing work at office ceiling due to Water leakage & Costing is around 10 Lacs.
Approx. 6 Lacs for labouring & 4 Lacs for material use for repairing Both supplier is separate.

Now Question is that this would be Expense out or Capitalized in books ?
Please explain.

Hi,

We are a Sector Skill Council of India and our business is to give training to the candidates under electronics job roles. We don't do it ourselves. There are Assessment Agencies and Training Partners who are affiliated with us and do this work on our behalf.

For a particular training, we receive our payments from the respective govt. dept. and after that we have to pay to our Assessment Agencies after deducting our share. Some of the Assessment Agencies are registered under MSME act.

My concern is can we hold the payment of these MSME until we get the payment for that training because our policy is that we've to release the payment only after getting our payments from the govt. but sometimes we don't get payment on time.

So in that case can we delay payment of MSMEs until we get our payment or we've to pay interest on delayed payment to MSMEs. Please suggest what is the solution in this case?

Regards

Hello,

Can you tell me what is depreciation rate should be accounted for Motor Vehicle in United Kingdom ?

Should we capitalized Depreciation cost if P&M directly related for R&D ? If Yes, then how can we reconciled depreciation as per PPE schedule & depreciation cost as per P&L ?