A company's staff gratuity is being managed by LIC. Pl clarify on the whether payment made to LIC, balance in the fund should be shown in the books of the Company ?

2. Whether Gratuity Trust creation is a must. What transactions are to pass through the Trust Accounts.

2) THE UNDERLYING ACCOUNTING PRINCIPLES NECESSITATING AMORTIZATION OF
INTANGIBLE ASSETS IS /ARE

A) COST CONCEPT
B) REALIZATION CONCEPT
C) MATCHING CONCEPT
D) BOTH OF A AND C ABOVE

1) X LTD SET UP A NEW FACTORY IN THE BACKWARD AREA AND PURCHASED PLANT
FOR RS 500 LACKS FOR THE PURPOSE. PURCHASES WERE ENTITLED FOR CENVAT
CREDIT OF RS 1O LAKHS AND GOVT. ALSO AGREED TO EXTEND 25 % SUBSIDY FOR
BACKWARD AREA DEVELOPMENT. DETERMINE THE DEPRECIABLE VALUE OF OF THE
ASSET

A) RS 500 LAKHS
B) RS 392 LAKHS
C) RS 400 LAKHS
D) RS 390 LAKHS

Dear Experts,

1) If in case of assessment AO disallow some expenses debited to P&L 3 years back, then what will be accounting treatment ?

2) If AO adds some income at the time of assessment, then what will be accounting treatment ?


Thanks.

Please help on this entry,..

A company is entering purchases at the time of purchase of items which are to be supplied free of cost along with the sale of main component and the company is entering sales at the time of sales of main component but the company is suppling free goods in installments now the company is making provision for free goods to be supplied by the company.
whether the co. should make the provision for the goods which are to be supplied free of cost?????

Is there required to make nil balance every year in cash credit account? why

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