Advance paid for capital expenses but some part paid is irrecoverable, after receving services or material.
what will be the treatment in accounts
Sir/Madam
Can you suggest me under which head it should be capitalized??
Under Building or office equipment head??
A four wheeler vehicle is registered in the name of Pvt. Ltd. Company 'X' and depreciation is claimed every year.
Due to some reasons the above vehicle underwent for repairs and maintenance and the invoice amount was Rs. 2.73 lacs and this invoice amount was paid through Bank transaction by another Pvt. Ltd. Company 'Y' due to shortage of funds in Pvt. Ltd. Company 'X' .
One of the Directors in both the Companies is the same person.
How to pass the entries in books of account for the above payment of Rs. 2.73 lacs in both the Companies .
Any implication as per Income Tax Act and in reporting.
Plz clarify.
How to make journal entry of secured loan in the case of company.
why opening balance is matched while finalisation of balance sheet.
why maintained separately current and fixed capital in partnership firm /LLP.
what is its benefit. please reply
what is capital contribution in case of LLP/partnership firm,Please reply
what will be the treatment in the case of individual books
when only single single ledger is maintained , then no issue but
when Fixed or current capital maintained,
the how to make adjustment of profit /Loss or other transaction,
whether loss /profit is adjusted with current capital or fixed capital,
in the case of LLP
what will be the treatment of loss / profit in the case of an individual.
Advance paid for capital expenses