account query

IF A PARTNERSHIP FIRM PAY THE ROC FEES OF A COMPANY IN WHICH DIRECTOR IS MR . A    and MR.A IS  WORKING AS A PARTNER IN THAT FIRM ALSO . THEN TELL ME WHAT WILL BE THE TREATMENT OF THAT FEES IN FIRM BOOKS AND COMPANY BOOKS

Replies (9)

In partnership firm entry will be debit to partner Mr A Capital A/c or His Drawing A/c &

In Co we show as Under loan as Unsecured loan Mr A Loan's A/c think that much id ok .......

In Firm, the same has to be debited to Partners Capital Account of Mr. A and in Company it will be treated as Preliminary expenses by Crediting Promoters' account.

 

The amount paid as ROC fees should be debited in A' s capital account in the books of the firm. In the books of the company the amount is to be debited in filing fee and to be credited as unsecured loan from A.

As a Partner he liable to debited to his account bcz of this is not a liability of firm.

As a Director he pays ROC fees then this is credited to his account by preliminiary exp incurred by A on behalf of company.

The amount paid as ROC fees should be debited in A' s capital account in the books of the firm. In the books of the company the amount is to be debited in filing fee and to be credited as unsecured loan from A.

TREATEMENT OF ABOVE WILL BE SAME AS REGARDED BY CA PRAVIN AHUJHA

Professional Tax Rates for the assement year 2009-10

Our Birth is our Opening Balance !
Our Death is our Closing Balance!
Our Prejudiced Views are our Liabilities
Our Creative Ideas are our Assets
Heart is our Current Asset
Soul is our Fixed Asset
Brain is our Fixed Deposit
Thinking is our Current Account
Achievements are our Capital
Character & Morals, our Stock-in-Trade
Friends are our General Reserves
Values & Behavior are our Goodwill
Patience is our Interest Earned
Love is our Dividend
Children are our Bonus Issues
Education is Brands / Patents
Knowledge is our Investment
Experience is our Premium Account
The Aim is to Tally the Balance Sheet Accurately.
The Goal is to get the Best Presented Accounts Award 
 

 Sir I want to read more & more account querry

Ajit Kedia

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