Hi,

What is the exchange rate to be used for booking export sales?

Is is mandatory to use the RBI rate of any other rate could be used?

Regards

There is A company Called AB Limited, whose directors are A & B.
This is a marketing Company and arrange events for other companies for there launch of new product etc. Now for new product launch. A (Director) received Rs.3000000 in his personal account from XY Limited. And spend that money in arrangement of event. Expenses are booked in company account. Now how should i reflect this Rs.3000000 receipt in Books of AB Limited as it is not received in company account.

Please help me to sort this out

Hello,

Presently, I do accounting on Tally ERP9 for stock exchange transactions i.e buying and selling of shares.In normal tally version
their is not proper system for recording short term/long term gain/loss.Tally is not taking date-wise calculation for bifurcation of shot term/long term.My question is how to make entry of short term/long term gain/loss of shares in Tally ERP9.

Another one,I want to record opening stock of shares with quantity and date in Tally ERP9 .Let say,I wants to record Reliance
1000 Qty (200 on 15-2-2008, 300 on 16-8-2009 and 500 on 30-9-2010) in opening stock of 01-04-2011.My question is how to record opening stock with different dates in Tally ERP9.

Awaiting for reply.

Regards
Virag Shah

the goods are specifically made for export and and it is sold to the party but afterwards the party returns the good . It's not possible to sell the same. What will be the loss entry and what will be it's valuation ? for eg....the cost is 90 and i sell for 100? then?

B sold 50 televisions at Rs. 15000 per television. He was entitled to commission of Rs. 500 per television sold plus one forth of the amount by which the gross sale proceeds less total commission there on exceeded a sum calculated at the rate of Rs. 12500 per television sold. Amount of commission will be? please solve hint..

Bharati consigned to Bhavana 1500 Kg of flour costing Rs 4500. She spend Rs 307 as forwarding charges 5% of the consignment was lost in weighing and handling. Bawana sold 1350 Kg of flour at Rs 4 per Kg. Her selling expenses being Rs 550 and commission at 12.5% on sales. Valuation of closing stock will be?

Will the reversal of deferred tax will be considered in Cash flow statement? If considered in which part we should consider)

If a govt. give a Grant to a company, later company purchase a Fixed Asset from that Grant, than what entries are passed by company?

Please advise how to treat the interest expense on loan taken for purchase of land, on which a building has to be constructed. In this case the building construction is yet to start due to clearance issues.

can anybody help me about following situation.

in our industry we have total 600 labours. out of 500 labour are contractual labour means we give wages and salary to one contractor whose provide manpower to us, means if we pay wages and salary to manpower contractor directly, so what is accounting entry would be done.


so how is accounting would be done according to standards.