Dear friends,

Could anyone tell me,How to account the Bonus Share in the books of Investor?

Historical cost of asset Rs 100
Written down value Rs 75

Sold the assets at Rs 150. That means profit of 75 Rs.

I heard that out of this 75 Rs profit, 25 Rs will be credited to P&L A/c and 50 Rs will be transferred to capital reserve. Is this treatment correct?

If yes, under which AS/ASI can I read about this treatment method?

A fixed asset with historical cost of Rs 150 & WDV of Rs 100 have been revalued Rs 150 and accordingly revaluation reserve of Rs 50 has been created.

Lets assume, the asset is subsequently sold for
Situation A for Rs 175
Situation B for Rs 120

What will the accounting entry and finally where will be balance in revaluation reserve be transfered?

If an old Fixed asset (WDV - Rs 5000) exchanged for new machinery (fair market value - Rs 10000)

What will be the accounting treatment?

What if the recharge cards are purchased for Rs.100 and also sold for Rs.100 but the Company whose cards are sold, gives the dealer commission separately?

What if the recharge cards are purchased for Rs.100 and also sold for Rs.100 but the Company whose cards are sold, gives the dealer commission separately?

Could you explain the difference between advanace recoverable in cash or kind and current assets as per schedule VI of companies act.

Could you explain the difference between advance recoverable in cash or kind and current assets with items that are included in cr=urrent assets and advance as per schedule VI of companies act.

Dear All,
If fixed asset is purchased and if supplier allows discount on the price of the same which is shown separately in the purchase bill,whether such discount should be credited to Profit and Loss A/c or reduced from the cost of the fixed asset?

ther is a partnership firm where ther are 5 partners ratio 30:30:20:10:10
the partners having 20:10:10 share are threating to give a dispute letter in the bank.
The partner having 20% is a lady and she is partner in other Concrete industry with her husband.
the partners having 10% each are directors of a casting company which is private limited.
One of the partner having 30% STAKE in the firm is parnter in the concrete firm to help the firm in legal matter
and he is the gurantor in the cating company.
The business is being carried out by partners with 30:30 ratio and the other 3 partners are non working but they take profits and now.the partnership firm is doing good and the other 3 partners 20:10:10 are not doing good are trying to give the dispute letter. What action can be taken to avoid the letter and even if the letter is given what should be the course of action.
Thanks in advance