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financial Management

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(Querist)
15 October 2009 can anyone give me answers to these Q in Fund Flow Statements

1. If Machinery costing 1.2Lacs acquired by issue of shares of 1lakh. How to deal With 20000

2. How to deal with Capital WIP in Balance Sheet?

3. How to deal with refund of Tax when both provision for taxation & Advance tax are there?
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sunny bansal

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sunny bansal (Expert)
15 October 2009 as per as 10 cost of machinery should be 100000.00 only and u have to do nothing with 20000.00..

WIP is to shown under the head current assets,loans & advances.......

in case of provison is of rs.100000 & advance tax rs.120000.00. in that case refund of rs.20000 will be adjusted with advance tax & amount in excess of rs.20000 as interest will be transferred to income (p&L a/c)
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Rakesh Singh

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Rakesh Singh (Querist)
17 October 2009 thank U.. in 2nd Q r u saying that CAPITAL WIP taken as Current Asset in FFS..
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