What are accounting entry passed for service Tax. please give clear entry.

we maintain the sales day book and all transaction includes here.i passed the credit sale entry as follow :-
1) cash a/c ... Dr. 100000
to sales a/c 100000
(this entry show all cash and credit transaction, in which credit transaction includes of Rs. 25000.)
2) debtor a/c ... Dr. 25000
to cash a/c 25000

3) cash a/c ... dr. 25000
to debtor a/c 25000



i want to know is these entry is right or wrong and if it is right, is it s per AS-9(revenue recognition)

i need your suggestion as soon as possible.

journal entry from company point of view

an employee draws salary of 10000 per month (incl. employee's contribution to PF 700) prof. tax 150. & employer's contribution to PF 700.

sir
what is the journal entry for capitalized interest

thank you

Please tell me whether revised schedule VI provides any change of format in Cash Flow Statements?

If not, then present format under direct & indirect method continues to be applicable for the FY 2011-12

According to AS-2--> Inventories should be valued at the lower of cost and net realizable value.
What is the logic behind this ??

Thanx in advance

Whether as per AS 10 and Schedule VI(revised), can "Dies" be charged of as a consumable for the reason that its value does not exceed Rs 5ooo/-.

in case of a company m having foll. balances in car a/c:-
op bal. Rs.516029/-
Dep Reserve till 31/03/2012 Rs.152444/-cash sale on 20/5/2012 Rs.350000/-
Loss on sale of car Rs. 13585/-
Car Purchase on 20/05/2012 Rs.1020160/-
Now as per company act, wat will b the treatment of depreciation reserve and loss on sale of car?

self assessment tax for f.y 2010-11 and tax on regular assessment paid in current year 2011-12.

how to show in my accounts / journal entry for this event

Hi all

As a statutory auditor of a pvt ltd company I want to know accounting treatment of the fictitious assets say receivables waived off by debtor , pyts made to vendors in advance which co could not recover now presented in the B/s from past five years. The amount is huge of around 55 lakhs (debit).

Can any one suggest how the same is to be dealt with and tax effect thereon & relevant Company Act provisions applicable (if any).

Replies could be mailed to kirtigkulkarni@gmail.com