which entry is correct and y?


1.) P&L a/c ...........dr
TO Prov for D/D

OR


1.) Prov for D/D a/c..........dr
To debtors
and
2.) P/L a/c...................dr
To Prov for D/D

IS CASH DISCOUNT RECEIVED ON PURCHASE OF FIXED ASSET WILL BE DEBITED TO PROFIT OR LOSS ACCOUNT OR NOT.

Under which category the Call money received should be shown in Balance Sheet as per Revised Schedule VI?

hi,sir/mam
my dought is why secutries premium account is credited
we pass journal entry
sh allotment a/c...dr
To sh capital
To secutries account
what is logic behind that?
i mean we can credit whole amt in capital itself.

Dear Experts,

with the reference to the subject i would like to

i am working as an Accountant in Japanese company which is incorporated in June 2012 in India, my question is, before the incorporation of company in India, parent company from japan had invest money around 20000$ as pre-incorporation expenses for registration & Furnishing of office, now we have to pay the entire amount back, how much amount of tax will be get deducted & what will be procedure

Thanks in advance

Can anyone explain me whts is the difference between IFRS, Ind AS and IFRS.....nd which ones are mandatory in India for companies...???????????

Dear All

Can Anyone please help what is the right criteria to recognize revenue of a real estate developer. What shall be the proper Recognition.

Dear Sir
I have recieved a post dated cheque dated 15th April 2013. What entry I will post and which date.
And I have paid a post dated cheque to the supplier dated 20th April 2013. What entry I will post and what date.
Kindly reply urgently.
Thanks in advance.

Cost of Acquisition 137,000
Less: 20% Downpayment 27,400
Loan Received in Bank Acc 109600
Interest Payable on Loan Receipt for the period of 36 Months - 14738.25
( as per Repayment Schedule on Reducing Balance Method)
Amortization Schedule for 1st Year Date

Openig Balance Interest Principal Total Instalment Closing Balance 5-

May-12 109,600.00 753.50 2,696.50 3,450.00 106,903.50 5-Jun-12 106,903.50 759.46 2,690.54 3,450.00 104,212.96 5-Jul-12 104,212.96 716.46 2,733.54 3,450.00 101,479.42 5-Aug-12 101,479.42 720.93 2,729.07 3,450.00 98,750.35 5-Sep-12 98,750.35 701.54 2,748.46 3,450.00 96,001.89 5-Oct-12 96,001.89 682.01 2,767.99 3,450.00 93,233.90 5-Nov-12 93,233.90 640.98 2,809.02 3,450.00 90,424.88 5-Dec-12 90,424.88 621.67 2,828.33 3,450.00 87,596.55

Closing Balance of Bank is 87596.55

but as per my accounting Ledger Balance Shows 96738.25

I Accounted entry as follow

Bank A/c Dr 109600.00/-
Prepaid inTerest on Loan A/c Dr 14738.25 Loan Payable A/c 124338.25

then deduct every month 3450.00 as per above interest and principal schedule.


Can any one reconcile the balance n show me how to rectify the error


In Addition as per Bank Balance confirmation report there is some accrued Interest of 542.00 what kind of interest is this? pls Help

Atharparkar@gmail.com

Cost of Acquisition 137,000
Less: 20% Downpayment 27,400
Loan Received in Bank Acc 109600
Interest Payable on Loan Receipt for the period of 36 Months - 14738.25 ( as per Repayment Schedule on Reducing Balance Method)
Amortization Schedule for 1st Year

Date Openig Balance Interest Principal Total Instalment Closing Balance
5-May-12 109,600.00 753.50 2,696.50 3,450.00 106,903.50
5-Jun-12 106,903.50 759.46 2,690.54 3,450.00 104,212.96
5-Jul-12 104,212.96 716.46 2,733.54 3,450.00 101,479.42
5-Aug-12 101,479.42 720.93 2,729.07 3,450.00 98,750.35
5-Sep-12 98,750.35 701.54 2,748.46 3,450.00 96,001.89
5-Oct-12 96,001.89 682.01 2,767.99 3,450.00 93,233.90
5-Nov-12 93,233.90 640.98 2,809.02 3,450.00 90,424.88
5-Dec-12 90,424.88 621.67 2,828.33 3,450.00 87,596.55


Closing Balance of Bank is 87596.55

but as per my accounting Ledger Balance Shows 96738.25

Accounted entry as follow
Bank A/c Dr 109600.00/-
Prepaid inTerest on Loan A/c Dr 14738.25
Loan Payable A/c 124338.25

then deduct every month 3450.00 as per above interest and principal schedule.

Can any one reconcile the balance n show me how to rectify the error


in Addition as per Bank Balance confirmation report there is some accrued Interest of 542.00 what kind of interest is this?

pls Help

dibnm2710@gmail.com