Please solve the question,

A B C are partners in a firm in the ratio of 5:4:3. A Retire from a firm and at a time of retirement ratio of B & C is 4:3 then what will be new ration after retirement.



A B C are partners in a firm in the ratio of 5:4:3 they admit D for 1/4 share of profit. But C share will remain same. What will be new ration after admision.



Thanks in advance

Is there any way to write back sundry creditors without raising the income? The creditors have already been paid but their accounts are still standing in books.

There is a mismatch between Bank Reco (After considering uncleared cheques) as per tally and bank statement. The mismatch is there since last many years. I don't want any such diff. from current year onwards.How is it possible? Thanks in advance

Dear Sirs,

Suppose deep discout bonds of Rs.1,00,000 (Face value)are purchased for Rs.70,000 on 1/4/2012. At maturity, on 31/3/2015, we shall get Rs.1,70,000.

Kindly guide in respect of (1)Purchase entry and (2)Interest Income Entry

Dear all,
we have imported Goods worth USD 20000.
Exchange rate on Bill of entry is Rs 50 (Rs 1000000)
We have paid a custom duty of Rs 250000
And custom clearance charges Rs 15000.
And freight charges Rs 50000.



Please provide me the accounting entry for the above example.

Also advice what should be the value to declare monthly return of VAT

There are many receipts as well as payments in the capital account of the partner of a partnership firm.
So, how should I calculate interest on capital ?
Please Answer asap

Dear friends,
i have a little query if u could please help me, i have got a offer of working in an indian firm which outsource the finalisation of accounting statements of newzealand and Australie. m a CA can u please help if i acept that job then in long term does that experience have any scope in INDIA.. please reply
Thanks in Anticipation.

This has reference to the applicability of Accounting Standards notified by Ministry of Corporate Affairs vide Notification G.S.R. 739(E) dated 07.12.2006. As per the aforesaid notifications, almost all accounting standards barring few ones like AS-17,AS-21, AS-3, AS-23, AS-25 are applicable to all companies in their entirety for accounting periods commencing on or after 7th December 2006.

For example whether AS-18 & 20 would be applicable for all the companies irrespective of the criteria (Level I, II, III) defined in Accounting Standards issued by ICAI?

would like to know views of learned Experts on the same and would like to know if any further clarifications, notifications, exemptions have been issued by MCA.

Dear Experts

As per old schedule VI preliminary expnses and miscllaneous expenses not written off shown separately in the balance
sheet after net current asset. New schedule
not prescribed to show the above said items in the face of the Balance sheet.Then where it is to be shown
in the new format of balance sheet.

Kindly Clarify in this regard

Yours faithfully
Santosh Kumar

I have an FDR Rs.5,00,000/- as on 31.03.2011. On 14.06.2011 the FDR matured alongwith interest Rs. 534060/-. On 17.06.2011 reinvest the FD to Bank. The Bank issued me a Interest & TDS Certificate as on 31.03.2012. The interest comes to Rs.44316/- and TDS Rs. 3711/-.

Rate : 6.75%

FD Amount : 5,00,000/- & Maturity Value : 5,37,086/-

DOI : 20.05.2010- & DOM : 14.06.2011

I got on Maturity Rs. 5,34,060/- and Reinvest on 17.06.2011.Effective Rate of Interest Rs.8.75%.

Need EXPERTS advice for making entry in my books of Accounts.