A Firm has purchased a car of Rs. 1830396 on loan of Rs.1700000. Firm's account in Sellers book is showing receipt from bank amounting to Rs.2004766. Processing Fees has been debited with Rs.304766.
Please suggest correct accounting treatment along with journal entry.
Thanks.

Please provide me the QIS statement format of Oriental bank of Commerce . Also want to know in detail that When we will give Performance, Estimated & Half Yearly QIS report to bank.

Which Accounting Policy is followed by Trust (Public Trust)? (Cash Basis or Accrual Basis Or Both)?

For Receipt Of Grant: Receipt Basis of Accounting & For Expenses Accrual Basis of Accounting?

Sir,
My CA firm is registered in June 2018 and a private limited company whose previous auditor term was completed in March 2018, Can I appoint in that company w.e.f .1.04.2018 and whether previous auditor required to file ADT-3 or not.

CA qualified in may 2019 attempt and holding COP from 1st Oct 2019 Can he do the Company Audit for financial year ending 31/03/2019(i.e FY 2018-19)? if the auditor appointed in last year AGM was resigned in Sep 2019, now that recently qualified CA can accept this Audit? and also in case of Tax Audit for that company?

Whether a pathological lab run by a partnership firm (5partners, all are doctor, but not a pathologist 2 dr are Anesthesiologist and one are surgeon and 2 are MD medicine in that case this partnership is Business or Profession for the purpose of declaring presumptive income under the Income Tax Act.

Our business concern is a partnership firm during the F.Y 2018-19 our sales turnover is 34 Lakhs. Is it compulsory for seeing a minimum 8% net profit otherwise Audit under Sec.44AB. Is it allowable for claiming interest on capital or remuneration without audit under Sec 44AB.

In the audit report filed (accepted/approved. by the assessee) TDS made and return filed is inadvertently omitted to be reported, what is the consequence? Should revised audit report to be filed?

is it compulsory 15 days before generate udin for tax audit reports pls clarify

TAX AUDIT U/S 44AB TURNOVER PLEASE EXPLAIN,
1)HAVING SALES RS.50L PLUS CLOSING STOCK RS. 65L, TOTAL RS. 115L
2)HAVING SALES RS.0, PURCHASE RS,3.5CR, SO SHOWING CLOSING STOCK RS.1.5CR