Hello,

Original cost of asset sold :Rs415000
WDV of asset sold as on :Rs.334092
Asset sold for Rs 25500/-

the depreciation has been provided as per Companies Act,1956

Will the loss on sale of asset be allowed as per Companies Act for the company?if yes,what would be the amount of Loss?


Thanks & regards

What is the difference between Concurrent audit and Continuous audit and who performs it?

Thank you

Hello,

Original cost of asset sold :Rs415000
WDV of asset sold as on :Rs.334092
Asset sold for Rs 25500/-

the depreciation has been provided as per Companies Act,1956

Will the loss on sale of asset be allowed as per Companies Act for the company?if yes,what would be the amount of Loss?


Thanks & regards

Hello,

Original cost of asset sold :Rs415000
WDV of asset sold as on :Rs.334092
Asset sold for Rs 25500/-

the depreciation has been provided as per Companies Act,1956

Will the loss on sale of asset be allowed as per Companies Act for the company?if yes,what would be the amount of Loss?


Thanks & regards

SUPPOSE ACCOUNTAT GIVE 1000 RS. TO HIS COMPANY PEON FOR BUYING STATIONERY, HE BUYS IT AND GIVE TAX INVOICE BUT DONOT SIGN PAYMENT VOUCHER IN THIS WHO WILL SIGN A CASH RECEIVER FOR MAKING PAYMENT VOUCHER

Sir,

Can any one tell me whether AS 7 will be apply to construction company and how much amount is to be considered for AS 7.Please tell me how to compute the same in detail.

Whether loan taken from directors are to be mentioned in register to be maintained unders section 301 of the companies act 1956?

If Tax Audit is applicable to the company in the last year, than do we have to check its applicability for the current year also?? Or its automatically applies for the current year also??

Suppose in X Ltd. an employee was given 100USD on 1st march 2010 by the company not directly but through a forex vendor, who billed the company in INR, The employee then comes back to India on 30th April and returns 20 USD to the dealer. The dealer then refunds the money in INR to the company on the rate as on the actual receipt.The co. records the difference of rates for da returned currency as forex gain/loss. My question is whether we should book unrealised profit/ loss as on Mar 31,2010 in the company's books, and whether it qualifies as a monetary asset as per AS 11????

plz tellme what points to be check in ledger & journal scrutiny.