I Have to maintain joint bank account of proprietorship firm , My question is that how to maintain receipt and payment and also Interest earning how to divide between joint bank account.

Hello All,

Renovation of office taken on lease for 5 years, should it be capitalized or shown as expense.

My clients

1. Laptop broke

2. She got a quote from Apple to fix

3. She purchased a new laptop as She was told the processing time was so long for insurance

4. Submitted quote for fix and a new laptop to the insurer

5. They paid for the amount to fix, not the full replacement, minus vat

How to account this and which nominal to use for the amount received from insurer

can we pass journal entry of profit from partnership Firm,
Partnership Firm Name A/c Dr.
Partnership Firm Expenses A/c Dr
To Profit/Loss from Firms/LLP

Or
Partnership Firm Name A/c Dr.
To Profit /Loss From Firms LLP

For under construction Building cost incurred for ATT Reticulation systems.
whether should be capitalised.

what is retention money and what will be the journal entry in the books of service receiver .
Retention money is 5% of total cost of project.
How to make journal entry of retention money held

Sir we have a English medium school having affiliation upto class 8th English medium.

1.The school is registered under trust and trust is having it's pan and bank account. We wanted to buy a school vehicle so do we need to create a bank account for school separately or it can be bought through trust's bank account?

2. And if we want to open bank account on the name of school so what are the documents required?

For any advance received , is income taxable.
and for the advance received whether invoice can be issued.

In India Buy 2000 EURO For Rs. and expenses incurred for Tour and travelling 1730 and 270 return to money exchanger my question is that how to make Journal entry of both payment and sale and whether whether foreign exchange Flu cation required in the case of individual not going for official Visit.

In India buy Foreign Currency EURO 2000 and paid Rs. 182154
My question is that how to make journal entry of EURO Buying in Books