can u solve my problem that Co. sell goods to Mediator 2200 include cst and Mediator sell goods to customer rs2600 inclusive vat 400..customer return goods to company directly....now i hv got problem that what journal entry should passed by mediator at the time of return of goods to company,,,,,,,,and what treatment of vat and cst....and mediator paid vat to govt.

Dear All,

During the audit i came through some freight bills which were booked for payment in the month of July 2012 and all such bills were pertaining to September - December 2011.Client has made the provision for it and it has been reversed as and when the actual bills are booked.

My question is that how long a Company can maintain these provisions and does it differs from case to case ????

Looking forward for your opinion on this issue.


Thanks in Advance

Dear Friend,
a load of edible oil sent by us in a tanker met with an accident on its way to the customers place.Therefore the goods did not reach the customer. We have raised a claim with owner of the tanker to the extent of invoice value of the goods. The following entry is passed in our books.
Claim receivable(Lorry Owner) DR XXX
TO customer CR XXX.

However The sale was untouched. Is there an entry missing?. If sale is to be credited since the sale was not effected at all, which account has to be debited?

Please Help

Rgds

Hi,

I am Really Confused with these, Please Answer in Detail with Example if possible.

A. Difference between Provisional and Projected Balance sheet and its USES ?

B. what are the Basic Ratio to analyses a balance sheet for loan ?

M/s XYZ (Export Orientied Firms)

Sales > 1000 Euro on 1 April 2012 (Rate 69.70)
Sales Proceeds > 1000 Euro on 25 April 2012
(Rate 71.25)

At What Rate the sale will be Recorded ?
while making the Bill the amount will be Recorded in Euro or INR ?

NOTE : Is there any AS Governing the same ?

Sir,

Management says the auditor to written back the creditors under Section 41 of IT Act, 1961 and take that amount in P&L A/c in that case is it responsibility of CA to take written representation of the same from the management?

Sir,
Accounting S/W purchased for the firm or company should be recorded as exp of that year of as a fixed asset?

I know March is the year end....but why everyone is busy in march month...the assignments which are completed in the month of march can be completed later on too...then why there is rush in march everywhere?
Whether there are some specific assignments or entries in accounts which can be done in the month of March only?

is it possible to have a negative amount in the balance sheet of a company correspondence to Reserves and surplus?

what are the direct and indirect expenses in trading sector & manufacturing sector with example please.......