a facility management company is collecting and maintaining a sinking fund for replacement of capital equipments installed in a complex ,
my query is:
what will be the accounting treatment of this in the books of the company which is paying such amount , the paying company is a leasing company and is the owner of complex.
Also, after few payments, the complex is given on lease to another company and since then the lessee is contributing directly to the facility mgmt co. (as per the lease deed)
please clarify the accounting treatment in both the cases.
its urgent
im really confused about when to calculate opening stock reserve in departmental accounts.
In some questions it is written
Opening stock ( at cost to concerned departments)
in some
simply opening stock
in some
opening stock ( at cost)
in which case we calculate opening stock reserve?
Also in some questions in the absence of any information opening stock reserve is not calculated and in some we calculate stock reserve on Closing stock - opening stock.
im really very confused pls help me out and explain me this concept.
Suppose A Company HAs 200000 as provision for Tax on Liability side of and has 230000 as Advance Tax On Asset Side of earlier years Say from 1996-97 to 2002-03...,,,nd nw th company is a loss making co...nd no chances of revival
If th company write-off advance tax against provision thinking no refund will bw obtained and pass th following journal entry...
P & L A/c. Dr 30000
Provision 4 Tax A/c. 200000
To Adv. Tax 230000
What will b its implication on Th operating activities cash flow?
1)can some one tell me what is the treatment of Preliminary expenses in Accounts.
2)whether expenses made after incorporation but before the start of business is also considered as a preliminary expenses.n if not so what will be the treatment of these expenses.can i prepare put these in P&L accounts.
3.)how share and debenture expenses shall be treated in Accounts.are these also covered in AS 26.
Thanks
how 100% holding in subsidiary co. by holding co. is possible? as minimum 2 members are the basic requirement in company.
please send me quickly answer.
A person purchased a computer for Rs 30000. he was given a scrach card in which he won a Gold Coin worth Rs 5000.
What should be the accounting entries to be recorded in the books of the person.
Please suggest?
whithin which period goodwil shuld be written off.bcoz as per AS14 its maximun 5 while As per AS26 maximum is 10 year
If Vat & Service Tax are charges in Indirect Expenses suche as Printing Stationery,Repairs etc,Service tax charges in Maintanance,Repairs,Rents Etc.How should the Expenses Accounted.Whether setoff or Benefit can be taken.Please give some Logic.how should i account.
Muncipal Tax Paid what should be the account head.
Regards
How to account for the purchase and sales / redemption of mutual funds units.
Further while calculating net profit, do we have account in FIFO basis or average method.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
sinking fund