Anonymous
This Query has 1 replies

This Query has 1 replies

We were strugglig with accountant and in a year, he had to change 3 accountant.

Each one passed entry in different way by debiting different accounts for the same kind of transactions.

----------------------------------------
This is the case of Interstate Purchase:
----------------------------------------

Please help me out, What is correct, What is not? Which Purhcase account should be debited and in what case?

Case 1:
Purhcase from Indu Embroidery, Mumbai vide Invoice No. 4750 dated 05-11-2011 having invoice value of Rs. 2200 where supplier has added Rs .0 under M.VAT% and we have accounted Rs. 2200 against Purchase Exempted. Neither Purchase - CST - Exempted not Purchase - CST @ 25 Against C Form

Case 2:
While on the same item, Purchased from Junjun Impex, Chennai vide Invoice No. JI/1322 dated 11-11-2011 for Rs. 7808 where goods value is Rs. 7728 and P&H Charges Rs. 80 and Tax@ 5% is Zero. In this case we have accounted RS. 7808 against Purchase - CST @ 2% Against C Form.

Case 3:
Purchase from other supplier from New Delhi vide Invoice No. 053718 dated 29-10-2011 having invoice value of Rs. 71530 where supplier has added nothing as tax and we have accounted purchase Account as Purchase Exempted?


Waiting for your support.


Jimi KR
This Query has 1 replies

This Query has 1 replies

27 March 2013 at 15:48

Tds for book entry

A firm is paying rent to its partners in the year end after deducting TDS.Partners will invest the same in business as capital.In this situation whether book entry is sufficient or actual payment and receipt entry through bank is necessary? If only book adjustement is making whether there will be any issue of TDS?


Ritesh Maheshwari
This Query has 1 replies

This Query has 1 replies

We have made a statutory compliance of Factory Act through a Chartered Engineer annually. He send his labour for testing of m/c etc in factory for reporting purpose under Factory Act.
Now question is whether it is Repair & maintenance of M/c because of maintenance of m/c annually or Professional Fees for acting under Factory Act????



Anonymous
This Query has 2 replies

This Query has 2 replies

26 March 2013 at 16:02

Bank od entries

bank od a/c entries



Anonymous
This Query has 1 replies

This Query has 1 replies

26 March 2013 at 15:57

Bank cc a/c all entres

sir kindly send me all jurnal entrise of bank cc a/c



Anonymous
This Query has 1 replies

This Query has 1 replies

26 March 2013 at 14:03

Tds entry

Dear sir

We have paid TDS through bank on salaries, profession fee and contractors. We have paid the balance amount to above parties. My question is whether the TDS amount is taken as expenses in profit and loss account are not.



Anonymous
This Query has 2 replies

This Query has 2 replies

26 March 2013 at 13:00

Urgent

Can u tell me what should be the accounting treatment of any asset purchased by the company and gifted to the employee.Whether it should be directly expensed out through Pnl or it should be recognised as an asset first and then transferred it to PnL. Kindly answer asap



Anonymous
This Query has 1 replies

This Query has 1 replies

26 March 2013 at 12:31

Booking of exp under wrong head

can any tell me what happens if a company books any exp under the incorrect head?



Anonymous
This Query has 2 replies

This Query has 2 replies

26 March 2013 at 11:19

Debit note 7 credit note

what are the purpose/use of Dr. & cr. Note, & when it is used



Anonymous
This Query has 3 replies

This Query has 3 replies

25 March 2013 at 13:10

Interest on partner capital

I am in a partnership firm where there are 2 partners whose profit sharing ratio is equally between both.
My question is how do i calculate the interest on the partners capital ??






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