Anonymous
This Query has 3 replies

This Query has 3 replies

08 March 2013 at 17:11

Where to show lic investment ?

Respected Sir/ Medam ,

There is LIC premium every year ,where to show that amount
1) as investment into balance sheet
or
2) as withdrawal in capital

and
if both ways are right then if that amount shown as withdrawal for last year and i want to show now as investment ,is that possible?



Anonymous
This Query has 1 replies

This Query has 1 replies

07 March 2013 at 19:02

Uniforms exp under head

Dear Sir,

We purchased only Shirts as a uniform for labourer & supervisors of company depot. Sir, pls guied me that which head this exp will debit.
Regards,

Rahul Kumar Mehra


Neha
This Query has 1 replies

This Query has 1 replies

07 March 2013 at 17:29

Deferred tax asset/liability

Hello Sir
My newly incorporated company is followig calender year as accounting year1.e need to close accounts by 31-12-2012.
I am not aware of how to calculate dep as per income tax purpose & for which period so that I can calculate the difference between tax & accounting dep.Only then I can calculate DTA/DTL.


Pooja Sharma
This Query has 2 replies

This Query has 2 replies

07 March 2013 at 16:03

Balance sheet finalization

How We Can Finalize the Balance Sheet of particular firm.It's Constitution is Proprietorship for 9 months, and partnership for 3 months in the same Financial year. Remember it- that proprietor is not became partner in that firm. Also, We Need to give annual balance sheet of the said firm to sale tax Department.



Anonymous
This Query has 1 replies

This Query has 1 replies

06 March 2013 at 10:55

Accrued interest on fixed deposits

Sir,
An educational Institution accounts interest on fixed deposits on recipt basis. This year it is proposed to change the method of accounting from recipt basis to accrual basis. Interest is accrued on quarterly basis. Let me know as to how to treat the same in the books of accounts and give the corresponding calculations with an example.



Anonymous
This Query has 1 replies

This Query has 1 replies

05 March 2013 at 23:21

Discount allowed journal entry

Received cash from customer for $2940 after allowing 2% cash discount.
What is total amount receivable?
Somebody answer me quick.
Im having trouble with the calculation of total amount receivable and discounted amount.


gaurav g. patel
This Query has 1 replies

This Query has 1 replies

05 March 2013 at 17:29

Accounting standard 10

Dear Export,
Mr X have purchase a bike on 1.4.2010 of RS.50000 and milage of bike is 65 km/l. after two year milage is 30 km/l. and Mr X have some expense on bike Amt Rs 25000. bike's milage is increase to 60 km/l from 30 km/l.

give a suggetion to MrX for the expence incurred by him ,it should be capitalised or debited to p&l a/c. and also give the specific reson about that....

thank in advance


Prince Agarwal
This Query has 1 replies

This Query has 1 replies

Suppose, I am a dealer in Delhi, I ordered certain goods from Kolkata, which I want to get delivered to my customer in Mumbai.How will I account for such purchase and sale in transit where CST is exempt with my share of profit?[Goods purchased from Kolkata Rs 34382(Rs 30000+12.36% Excise+2% CST) and now I want to Bill my customer Rs 34382 + my share of profit ?



Anonymous
This Query has 5 replies

This Query has 5 replies

04 March 2013 at 22:54

Negative cash balance

Hello Sir,
I m newly joined in a company, while viewing the accounts of the company it has a negative cash balance, pls explain me wat should i do, how is the procedure i should work on.



Anonymous
This Query has 1 replies

This Query has 1 replies

04 March 2013 at 17:28

Cash sales

sir,

i am proprietor of company what is maximum limit for cash sales in whole year for company and partnership company






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