Can you please resolve my query?

Suppose for a company X has 2,00,000 accounts receivable from customer's for the last 2 years, so company file a case against the customer's for revert it back this amount and they have also decided to set off this receivable against partner's current account. is it possible to set off this amount in partner's current a/c? and after the set off company received this amount from client will it transfer to other income? or transfer to capital a/c ? as per management decisions

There is provision of F.B.T in Liability Side and Advances of F.B.T in assets Side from A/Y 2006-07 Onwards.
I want to remove this two items from Balance Sheet.
Kindly, tell me accounting entries for removing such taxes.

I m working in retail co. this company have 20 branches in all over India
I m working in ho office in that office separate company opened for every branch in tally.
Every branch deposited cash in bank I have pass the entry in every branch in tally and exp related to that branch.
If one common party in every branch I issue a common cheque of this party. But at the time of accounting I bifurcate the cheque of every ledger (i.e. leder name “A” sale goods to “b” and “c”branch of rs. 2000/- & 3000/- Respectively I pass the issue a cheque Rs. 5000/- & I pass the entry in “B” store Rs.2000/- & “c” store Rs. 3000/-
Its huge problem in bank reconciliation , because in every branch bank account ledger created. I have big problem in bank Reconciliation.
Please solve my query.

Dear experts,

I am using tally 7.2 ersion, and i am using from last financial year 2012-13, now i want to do entries for new financial year 2013-14,but it is not excessing . kindly tell me how to carry this( company data) for new financial year.

Dear Experts,
Good Evening
Our company buys cell phones for Gift to Clint. Should the purchase be entered as TELEPHONE EXPENSE, or should that go under OFFICE EXPENSE or Fixed Assets or any other category? kindly let me know
Thanks for the help!

Dear Expert Good afternoon

If A Pro. BS Has Liability
Capital-1142385.43
UnSecured Loan(Family)-1325000
Current Lib.&Prov.-9975 and Assets
Furniture-5354
Closing Stock-1629434
Building-613475
Cash in Hand-158312
Bank Bal-65274
Loan & Adv Asset-5511
Then the prop. can deposit cash Rs 6 Lac in bank in Aptil 12 to payment against Purchase of Material while cash in hand Rs 158312 but capital is Rs 1142385

Please guide me in this case.

IF GOODS LOST IN TRANSIT WHAT IS JOURNAL EANTRY, SELLER SEND GOODS TO BUYER WITHOUT INSURANCE WITH INSURANCE

we have sale good on cash basis with issue sale invoice sale invoice amt is 2900 but customer forget takan 100 rs he give us 3000 we take 100 rs as credit on cutmor a/c , my question is hoe many day we can take in book as credit ,when we take in as indirect income

There is 1 question in advanced accounts paper may 2012 where there is absorption w/o liquidating trfror co.And the institutes suggested answer shows solution by ignoring the word "w/o liquidating latter" Kindly tell me how to sove the problem.For reference I am giving the links 1.Question paper http://220.227.161.86/26769qp_ipcc_may12gp2_5.pdf 2.Suggested answer . http://220.227.161.86/29365suggans_ipcc_nov12-5.pdf Please help me with the same

a company whose accounting year ends on 31 march 2001 has placed order with X ltd for a machine costing 20 lacs against cash payment during june 2001.the company has added a foot note to the balance sheet as at 31 march 2001 showing separetely that a capital contract has been entered into which requires requires the payment of rs. 20 lacs in cash