X & Co has opened an LC (Letter of Credit) in the maonth of march'12 which would expire on may'12.

Now should the co provide for LC retirement charges in the accounts for the year ended mar'12 or no provision is required since the LC retires in the nex t financial year.

I want to know that in a particular year how much cash purchase can be done from a particular vendor.

Shall we include the following in stock value :
1. clearing and forwarding agent's fees,
2. forklift charges,
3. documentation charges for clearance of goods from port
4. Transportation from port to godown of company
5. Customs duty
6. Wharfing charges

hi..

PLS ADVICE ME ON THE TREATMENT OF ESIC AND PROVIDENT FUND...WHEN DEDUCTED FROM SALARY...

hi,
pls help me in preparing cash flow , i forget the format

sir i m having following query.
A sole prop. concern has shifted its business from manufacturing to trading of machinery. Its business remained closed from feb 2012 to mar 2012 for carrying out all the formalities. It has sold all its machinery (which was part of its Assets)to diff. firms.
Nw can i claim depreciation on that machinery (asset that i sold)????
Moreover wat will b the treatment of expenses during the shut down period?

DEAR SIR
I RECEIVED FROM MY COMPANY AS A PROFIT RS.100,000/- AND I HAVE MY OWN PERSONAL ACCOUNTING SYSTEM AND I HAVE TO RECORD THIS AMOUNT I MAKE ENTRY
BANK A/C DR
TO
PROFIT FROM FIRM
I WANT TO KNOW 'PROFIT FROM FIRM' UNDER WHICH A/C HEAD I HAVE TO CREATE. (IN THE SOFTWARE)AND I HAVE CAPITAL IN THIS CO RS200,000/-

THANK YOU

Dear Experts,

In a monthly bank stock statement I saw
ODBD A/C
Book debt : 29003863.00
Drawing power 174.00 lac margin 116.03 lac
Limit : 75.00 lac margin 30.00 lac (viz. 40% margin)
Balance outstanding 41.26 lac (closing balance of bank statement Apr’12)

Kindly help me to understand this

i have one querry, when we pass provision for audit fees,professional fees any other expenses at the end of the year. Is it neccessary to deduct TDS to allow that expenses?

Please reply.......

Dear all,

We have renew our webisite so please advice accounting entry.