why is lower value taken into consideration betwn market price n cost price while valuing
closing stock..

Bank purchases Government Treasury Bill having maturity of say 91 Days. The Purchase Price is say Rs. 99.50 and upon maturity the Bank will receive Rs. 100.

Now the Question is
1. Whether the difference amount shall be accounted for as Interest Income or Capital Gain?

2.In case the Bank sells the same before its maturity will there be any different treatment of the excess amount received over the Purchase Price?

3. Is there any RBI or ICAI Guideline for Accounting for Government Treasury Bills?

Kindly reply

Thanks in Advance

Dear Sir,
Our Company Sold Buildings Sale Value of The Buildings Rs.54,00,000
But now Book Vale of Buildings in Capital assets Showing Rs.18,00,000,
How to take into the Accounting sale value?

A situation were theres a theft of vehicle and depreciation has been claimed till 31st mar 12

Insurance claim has been received for the same by sep 2012 mid

My query is how to treat the insurance claim and whether to provide depreciation till sep 12 though vehicle is been lost from may 12?

Kindly post ur views

Dear all

please explane me entry of Exchange gain & loss

if loss which gl effected
If profit which gl ettected & any material cost gl effect at the time of exchange entry passing

why we adjust Non Trade In vestments while calculating Average profit

"withdrawn cash from business for personal use". This is a journal entry now I am in a confusion that in tally under which voucher it will come and which accounts I have to debit and credit?

Can anyone show me furniture a/c for information given below as i am not getting correct final answer either it may be becoz of printing error in my book anyway please solve (A)Bal of of furniture as on 31 march 2010 is 9,000 and bal of furniture as on 31 march2011 is 10,000 (B)Furniture which cost Rs5,000 , written down value Rs1000 sold during the year 2011 for Rs2,000

sir we need your help for caculation of ESI and EPF for wages of workers in our company on for folloing details:-
1.BASIC 8500 HRA 1500
2.BASIC 8100 HRA 1400
3.BASIC 5300 HRA 700
4.BASIC 6750 HRA 1000
EMPLOYER CONT PF 12.5% ESIC 4.75%
eMPLOYEE CON 12.5% 1.75%

What is the basic diference between loan and deposits???