Can anyone explain me how to account a prior period project cost for Example Drawing, Quantity Surveying, quoting exp.... and related Labour cost of the Designing Engineer and Quantity Surveyor. Are these expenses are project related cost? Or Marketing cost?

Hello All,

Pl help me out in following query.
We have one foreign bank account. nw from india we transferred $1000 to foreign bank, rate for that day was 53. we did accounting in rupees and balance sheet reflects amount of Rs. 53000 in foreign bank account. Now we spent $1000 for some expenses, rate for that day is Rs. 55. now in rupees the Foreign bank showing negative balance of Rs. 2000. Pl note that this is not on account of fluctuation. is there any mistake. what is the solution.

Pl guide..

Sir

can we capitalise pre operating expenses like consultant fee, loan processing charges, salary for the labour during the pre operating phase of a new project which is extension of our current business line.

i want any file or article which will have all the major jornal entries which will help me in finalisation

i want to ask if my clients tds is deducted under section 194d insurance commision and is displayed in 26as is there any need to make entry in 26 as while doing accounting wat will be the entry

One company sold goods to its parent company on dollar terms.But as per the management there is no need to reinstate the debtors on B/S date because the parent company will only pay the amount(in Rs.) which was due on the date of transaction.Is this practice correct??

As per AS 30,31,32 -What is procedure for

1.accounting of Equity shares , their loss/ gains and

2.accounting of Futures and options.

in case of INVESTMENT COMPANY.
(both intial and subsequent measurement)???

Further what is the procedure of accounting of Collateral Shares appearing in Balance Sheet in opening stock ??? (Pledged for Mark to margin money of futures with their Broker. The Broker has the right to sell it)

PLEASE EXPLAIN IN A LAYMAN LANGUAGE. IN A SIMPLER WAY.

Hi to everyone,winners ltd. was formed to take over a running business with effect from 1st April 2010.The company was incorporated on 1st August 2010 and the certificate of commencement of business was received 1st October 2010.

and my query is what is pre-incorporation period whether it is upto August or upto September.
thanks in advance....

land original cost - 100/-
Revalued - 50/-
-----------
150/- shown in Land B/S assts side

50/- in capital reserve - liability side

on sale value of Rs. 200/-

How to a/c for profit & wt will be the entries?

Pls reply urgently.

Thanks

X Ltd. is a company engaged in contruction business. It got a contract of bridge contruction from Y Ltd. The contract revenue is 100 lacs and cost is 70 lacs. As per the terms of contract A Ltd. can issue bill only if 30 percent of work has been done. In the first year 25% of work was done. So, how revenue will be recognised in such a situation?