Dear all,
Please give me exact definition to WHAT IS DEBIT AND CREDIT ?

HERE I AM CONFUSED ABOUT TAX INVOICE. THE BILL WHICH CONTAINS EXCISE DUTY/CUSTOM DUTY & VAT OR CST IS CALLED TAX INVOICE. BUT HERE I FOUND FROM VAT PRACTIONER THAT THE BILL WHICH CONTAINS CST IS CALLED RETAIL INVOICE. BUT I CAN NOT DIGEST THIS. SO PLEASE HELP ME TO GET OUT OF THIS CONFUSION; & IF YOU HAVE ANY DETAIL NOTE THAN PLEASE SHARE IT.

REGARDS:
RAKESH

Dear sir /madam
One of my client is undergoing amalgamation in the nature of merger . they have intercompany holding .I said them to wite off the value of investment through general raserve in the books of transferee company. when it comes to allotment of purchase consideration I passed the entry as
ESH of ...co.
To ES of transferee co.
but the balance sheet didn't match .The problm is when I credited the amount of Equity share by purchase cosideration the liability side stands incresed but where shall I show the corresponding debit entry. Goodwill doesn't arise in the nature of merger.

Dear Sir/ Madam,

I received a bill from CA for Partner ship deed for Rs. 2500/- and ST - Rs. 309.

How to paste journal & Payment. How to tally the ledger. The total amount is paid by cash.

Tell me the entries. Plz

X Ltd Purchase 1000 unites of a material @ Rs 100 (Including Rs 10 excise duty for which company already avail Cenvat Credit). Cost bear by Company for Freight Inward is Rs 2000. There is a normal loss of 5 % during Transportation.
Calculate cost of Inventory per unit according to AS-2.


Plz help!!!!

I am handling NGO account.
But i am confused what type of account name opened for various entry in NGO. Is there any provision for handling ngo account

Hi,

Can anyone please pass the journal entry for below transaction.

1) There is XYZ Enterprises and it is a Head office also, and its having two branches called A and B.

* 'A' purchased some Printing and stationary for 'B'.

now what are the journal entries in both the books of accounts.

Note: Accountant sits in HO and taking care of both the branches.

Thanks in advance

Dear Sir,

If Machinery Purchase bill have excise duty & Vat also, We taken credit for both. then what will be the amount taken for charging Depreciation?

Eg. 100+12.36+12.5=124.86

Kindly explain in detail with excise duty & VAT also?

Hi plz help me
When an educational institution paid for lifetime membership fee to another educational institution then accounting treatment in the hand of payee and receiver.

Dear all professionals,

Please can anyone solve my query regarding calculation of WIP (Closing Stock) in the business of builders and Developers?
If possible elaborate with example.

Thanks in Advance