HEAVY RENOVATION IS BEING CARRIED ON
EXPENDITURE RELATED TO
WIRING, WOOD PURCHASED FOR PARTITIONS OF DOORS , OTHER ELECTRICAL ITEMS PURCHASED
SHOULD BE CAPITALISED
UNDER
BUILDING OR
ELECTRIC INSTALLATION
OR FURNITURE & FIXTURE
EVERYTHING UNDER BUILDING OR RESPECTIVE HEADS.
KINDLY CLARIFY

A society received Rs. 200000 as a grant from MLA for building construction.
Society Spent Rs. 256000 on building construction.

How should we account donation in books of accounts. Society not providing any depreciation on building.
As per AS 12 second method of accounting of donation for fixed asset, deferred income and useful life not ascertainable.

Whether Society show specific donation as a capital reserve and show building at Rs. 256000.

is there any time limit for imprest settlement on returning to place(Ofc) from official tour outside the state.

and if employee has gone abroad for official purposes, than with in how much time of his returning to India bills to be obtained from him.
for booking of expense what rate of exchange should be considered ??
- on the date on which bills deposited and imprest settled
- average rate

and one more thing
if in between... imprest given and bills obtained date of closure of accounts arrives i.e31 march than
expenses booked next year will be considered prior period

in a company Gross salary of Mr. A is Rs. 8000/- and his PF contribution is Rs. 960, and employee contribution is 960/- what would be the correct / perfect account entry in Tally, should I open the Name of employee in Ledger A/c.

does profit, opening stock & closing stock form the part of trial balance.??
what does closing capital a/c of trader represent.??

What is "AS".What is in the"Accounting stanerd 28"

Pls any give the answer to the problem;
(Page 2.81 Q 12 July 2010 edition ipcc paper I, Vol I)
Bee Ltd. had the following Balance 0n 31.3.2006:
6% Pre. Share of Rs. 25 e.f.p 200000
Eq. Share of Rs. 100 e.f.p 100000
Share Premium A/c 200000
Capital Red. Res. A/c 100000
Gen. Res. 300000
P & L A/c 80000
On the date, Land and Building whcih stood at Rs. 500000 in the books were revalued at Rs. 800000. it was decided to i. consolidate the pr.shar into shares of 100 each. ii. subdivide the equ.sha. of Rs, 1 each iii. adopt the revaluation of land and building and iv. issue fully paid up bonus shares to eq. shar hol. equal to 50% of present e.s.capital revenue reserve and profit being used only if necessary for the purpose.
Give junal entries , MY DOUBT IS WHETHER IT IS INTERNAL RECONSTRUCION CHAPTER?

is there Tds applicable on video shooting& photography

Hi, Below some tipical problem i've have which need solution for this

A & B Partner to buy and sell property. A invested 25K to buy property worth of 75L and balance amount will be arranged through bank loan.

Now A& B pay EMI amount of 54K out of which B pay his option of 20K .

A& B decided to sell this property at value of 1.25C .

1. What is profit A&B get after selling property

2. Assume loan will paid through of from sale value (outstanding balance is 40L)

Can you some please help on this?

Regards

Venkat

I have a Question to Ask.

Last Year by mistake exchange rate fluctuation effect not given in the books of accounts.
resulting figure of last year fluctuation is credit balance of Rs. 500000(Assume).

What is the Accounting procedure to deal it in current year.
Whether i transfer it to profit and loss account or not.

Thanx in advance.