On realisation of proceeds of export sales which were discounted, the remitters' foreign bank has levied certain charges which is reduced from the remittance amount and balance is remitted to receivers' bank account:

What would be the treatment of this amount as reduced by foreign bank:

a.Finance Cost booked under Bank Charges
b. Reduction in Receivables
c. Reducing this amount while calculating the FX Gain/Loss

Kindly advise.
thanks

My company deals in Suppling & Fixing of Roofing Sheet and also supply Materials for Fixing purposes, in which we require Labour for Fixing the Sheets & also for Painting the Sheet & Purline etc.I want to know whether all labour payment will be considered as Direct Expenses or Indirect Expenses. Some of the Payment is made in Cash & Some by Cheque & for which we don't receive any bill from Labour Contractor but after completion of work we raise bill to the Party for Labour Work.

Hi,

I have a doubt in Balance Sheet, Can we prepare balance sheet on monthly basis, If yes how to calculate depreciation and other things, please let me know

Thanks
Vijay

Dear Sir,

I have purchase a engine from mahindra dealer and make the payment for the same, but I found that the same is defective, I approached the mahindra & Mahindra for the engine. Now M&M is agree to make the payment against warranty claim.

Now, Please help me to pass the accounting entries for the same.

thanks & regards
Deepak Gupta

I have only 2 queries

1, 4 Partners A,B,C,D creates a partnership firm after 1 months there are some purchases which will be paid to sundry creditors but partner B says i will pay to all creditors so how to do entry of it ?

2, partner D want to retired from partnership firm after 1 year. after calculation of capital, partner A decided to pay to partner D all his capital in this case how to do entry in account of partnership firm ?

Respected Sir,
i just want to know the accounts head or under which account it will appear 1)10.3% service tax on Purchase
2)10.3% service tax on sales
3)12.5% vat on purchase
4)12.5% vat on sales
5)C Form
kindly give the reply urgently.

gud morning to all experts
can any1 told me that which co. whose gross turn over above than 60 lakh than they are liable to get audited their account . can u tell me only this that when they will fill their balance sheet after account audited (30 september)

Dear Experts,
This is the 2nd time i am posting this simple query, very important for me. If any experts view this do reply this. How to perform a stock audit?
I need to know abt. it because my office might ask me to do that since 1st april 2012 is fast approaching. Hope all the experts know the importance of stock audit.
With regards,
Rajesh.

IS REVISED SCHEDULE VI IS APP. FOR NOV 2012???
IF YES WHAT BOOK TO BUY FOR FINANCIAL REPORTING FOR CA FINAL WITH EDITION??????

Respected Sir,

My query is that,

I am having land and building showing book value on 01.04.2011 of Rs. 1,00,00000/- but i sold the land & building to the seller for Rs. 1,35,00000/- so the income amount of Rs.35,00,000/- is taxable income ?.

& what book entry will come in land & building ledger.

its urgent.