Anonymous
This Query has 3 replies

This Query has 3 replies

07 June 2012 at 22:57

Treatment of imported fixed asset

what the treatment of imported fixed asset which held with the intention of being used for the purpose of producing or providing goods or services and is not held for sale in the normal course of business.
1.My question is whether the foreign fluctuation booked in under profit and loss account or added in the cost of the fixed asset?
2.which date is taken to book the foreign fluctuation whether the bill date or bill of lading or bill of entry date?



Anonymous
This Query has 2 replies

This Query has 2 replies

07 June 2012 at 22:05

For accountant knowledge

Know i am working in a company. I am Graduate in commerce stream. I know tally and Ms-office! My salary is 7000 per month. Now I want to earn 15000 per month. What i do know. can you teach me or advices me what i do? My family condition not so well. Tell what is the eligibility for earn 15000-20000 per month? Tell me the syllabus and and how i complete it?


hemant
This Query has 4 replies

This Query has 4 replies

07 June 2012 at 20:08

Accounting entry please guide

Respected experts, please guide me in the following its really urgent:

The case is as under;

Say there is a registered trust having 80G certificate, now this trust want to purchase assets but as there is many problems in after words selling that property, so decided to create company for buying assets but the problem is that fund given by donor is to trust for buying property now how trust can enter in this transaction of buying property.

So, main point is as under

fund given by donor is to trust for buying property.

Now that property purchase agreement is done by company with builder.

now my question is i want to rotate fund from trust to company for buying that property.

so guide me whether this is possible and if yes then how and if not than suggest me in the matter.

complete accounting entries. etc please any further details required than please let me know


Thanks.


Sethu
This Query has 3 replies

This Query has 3 replies

Hi,
Can any one send me Excel format of P&L, B/s. revised Schedule VI.


Raman
This Query has 1 replies

This Query has 1 replies

07 June 2012 at 18:34

Project invoicing

My client handles many civil projects which contains phase wise payments from the customers/contractee as below :

10% advance against submission of Engineering drawings

70% against completion of phase 1

Balance 20% on completion of phase II and erection and commissioning.

My query is when the client receives an advance against submission of engineering drawings, can the client not raise a sales invoice for 10% of the project value, as it has rendered a professional service by preparing and sumbitting engineering drawings.

If I don't invoice, the advance receipt is shown in the balance sheet under current liability, whereas this is not due since I have rendered a service to that extent.


Saurabh Bansal
This Query has 1 replies

This Query has 1 replies

What is the difference in exceptional & extra ordinary items in the context of revised schedule VI


CA Deepanjan Ghosh
This Query has 4 replies

This Query has 4 replies

07 June 2012 at 16:23

Depreciation

wat r the heads of tangible n intangible assets as per schedule vi of co act n their respective depreciation rates..pls suggest


Sanoj Kr. Sharma
This Query has 5 replies

This Query has 5 replies

07 June 2012 at 15:13

Tds on membership fees

If a party includes services tax on membership fees, is tds applicable for that exp or not....


Ashish Bhalara
This Query has 1 replies

This Query has 1 replies

07 June 2012 at 12:40

Stock transfer to fixed asset

We authorized dealer of car. We purchase a demo car and treated as a purchase and also show in VAT return as a purchase in Jun-2010. Now we want to capitalize this car to Fixed Asset but now confusion is that which account should be credited to transfer to FA. should i credit ledger of purchase to decrease the purchase.
What is the affect in Vat return by doing this. Please give the proper guidance.


abhishek jain
This Query has 2 replies

This Query has 2 replies

07 June 2012 at 11:45

Difference

difference b/w cost center and profit center ? plz explain with example






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