Can we adopt two methods of inventory valuation in single balance sheet if our stock is of different nature, where some stock can be valued at weighted average Cost but the other with either Specific Identification Method or FIFO ???? Please guide...
Dear sir , i really thanks for your concern and apologise to discontinuity with my account. Sir, we have purchased the Car on behalf of our Company name and getting scratch card with it.In scratch card we have winning the Air Condition.
So AC is winning price . And we consider as apart of other income in our books because the TDS Amount (Through issue a DD of TDS amt) for AC is paid by us to company who provide us the AC but in 26AS Tds actaully Deduct By the company who provide us the AC. Inshort TDS paid by us but deduct by that company who provide the winning price. So car is our fixed assets in our books & winning AC is other income for us. please tell us the journal entry for winning price and how we show the TDS entry on it in our books. Thanks & regards Asha HOW TO ATTACH DOCUMENTS IF I WANT SHARE FOR CLARIFICATION .
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What is the entry of ,if any Employee left the company and how to pass the Entry of his PF.
i.e Employee Name -Naresh Patel and the
Name Basic Salary Employee Part Employer Part Total
Naresh patel 12774 1533 1661 3194
Full and Final Payment done and entry also passed to accounts software.
Please suggest the entry with amount.
My company had purchased a machine from China, due to non performance we complained to the machine manufacturer, he has sent replacement parts for the machine for free, we have paid import duty for the free replacement parts received, but we are in dilemma how to show this transaction in books ? how to account for replacement part and where to show import duty paid ?