Dear Friends
3 questions
1) What are miscellaneous expenses (asset) mentioned in Tally?
2) Also please tell what are fictitious assets?
3) Insurance claim account will be put under what group in Tally?
Please tell with examples if possible.
regards
Menu
Miscellaneous expenses (asset)
Replies (3)
1) Misc Expenses - At the time of Begining of a Company a pre-operative Expensses can be treated as Asset (a long back it was called EDC - Expenses during Construction (Constructing the Company) But year by year a portion will be Expensed off - I hope I am correct with my previous experience.
2) fictitious assets : Intagible Assets - viz., Good will of a Company
3) Insurance Claim - (if already applied/made) Claims Receivable since if you do not received the entire claim balance can be w/off
sir
in tally we will put insurance claim account under which group ?
Insurance claims can't be recognized until there is ani certinity... Recognize only when the amount insurance company..
Insurance amount adjusted with loss of stock/ asset...
Recent Topic
- INCOME TAX DEPARTMENT: DOUBLE STANDARDS
- ITR-4,under presumptive Taxation
- TDS data mismatch with SFT
- Resale of under construction Residential Flat part
- What would be my Salary
- Damage good
- INCOME TAX RETURN
- Form 10E doubt
- LTCG on property sale after 24jul2024
- Should we mention NET INCOME or GROSS INCOME in i
Related Topics
CAclubindia
