Can Preliminary / Preoperative expenses shown in Balance Sheet of a company termed as Fictitious Assets?

Which balance sheet have to be prepare
( horizontal or vertical ) in nov 2012 exam.
i read that vertical is only for companies,
what is for others.
can any body pls help me regarding this matter

Hi Experts,

we bought an asset for the year of 2010/4.
at that time there was Fright expencess to the Machine forgot to maintain.

in this year2012/8 now we find Fright has not maintained to the particular asset..

so, please suggest how do we maintain this Expencess and what will be the entries to pass,what are the affective accounts?


Please help me in this scenario
thanks
sadasiva

My client being a Patnership Firm engaged in Construction Activities as Builder/Developer.Now during the year 2011-12 His total Works Completion is near about 35% of the total Project Cost Say Rs.3 crores.Moreover Member's Contribution's towards such Construction received till 2011-12 near About Rs.1.50 crores.

Now query is how to account for Income & expenses in books of Account so far revised guidelines for Contractor's is concerned i.e. % of Completion Method.

What shall be the basis for accounting the same in Books.

Please reply soonest with Accounting Entry to account for the same in Books.

Dear sir

A company made sales to a customer and the payment is due on 25th of march but the customer informed his inability to pay on 25th and informed the company that he will pay on 5th of april and he has given a promisary note also.Is any provision required in this case as it is year end.

Thanks&Regards

Harish

SIR,

I B.NAGENDRA VARA PRASAD RESIGNED MY COMPANY IN MAY 2012 up to may pf deducted.
AND MY HR PROCESSED PF TO PF OFFICE UP TO FEB-2012. HE SAID MARCH, APRIL, MAY IS NOT COME AS PER THE PF POLICIES. SO I LOSS MY 3 MONTHS PF AMOUNT.
MY PF AMOUNT CLEARED BY PF OFFICE UP TO FEB 2012. HOW TO GET THAT AMOUNT. PLEASE GIVE ADVISE THIS ISSUE. IS THERE ANY CHANCE

CAN ANYONE GIVE THE FULL JOURNAL ENTRY OF IMPORT PURCHASE FROM OUTISIDE OF INDIA.
INCLUSIVE OF IMPORT DUTY OR ENTER THE IMPORT DUTY BILL SEPARATELY BECAUSE WE MAKE PAYMENT TO CLEARING AGENT WHO PAYS THE IMPORT DUTY.

A unlisted company prepares consolidated financial statement for some financial years for the purpose of listing, but unfortunately it could not get listed. Now whether it is mandatory for that unlisted company to prepare consolidated financial statements in future also?

Respected all,

Please refer to the following query:

A stock broking firm had wrongly purchased shares in the code of the wrong client.Thereafter, it sold the said shares on the next day at a low price. The broking firm had incurred a loss of Rs. 11000/- on selling these shares and paid for the loss.
Under which head, this loss is to be accounted by the broking firm?

Regards

Dear all,

could you please advise me if the revised schedule is mandatory for the all the Partnership firms ??? and sole propriatory concerns ?


kindly advise me



thank you
Ramesh