We passed a entry for Doubtful Debts provision last yr i.e.
Bad & Doubtful debts Dr
To Provison for Bad Dets Cr.
Now we want to write off this prov mean these are complety bad debts.What exact entries i have to pass in accounts.

Hi,

I am working in a software company, we are reselling CAD/CAM etc., software. Currently, we can download all software with any security but we should have authorization.

So once we get a order from the customer we will invoice to customer without getting purchase bill.

We will get the purchase bill in a month.

But as a year end 31st March 2010, we have billed to some of our customer in the month of March 2010 but we haven't recv., the bill but it will get in the month of April 2010. So please guide me whether we can account bill dated in the month of April 2010 in the Month of March 2010.

Also, if i am purchasing at CST 2% against C Form, bill dated April 2010 if i am accounting in March 2010. Can I issue C Form in the period 1st Quarter of 2010-2011.

Please help me in the above case.

How should one treat this while preparing holdind co. B/s(treatment of pre acqn profits):-
The shares(of subsidiary co.)purchased on 31.7.1999, are ex dividend & Ex bonus from existing share holders...
Dt of acqn no's cost
1.4.99 8000 110000
31.7.99 6000 86000
Total shares in subsidiary co-20000

The a/c's of Holding co are prepared as on 31.3.2000.

in permanent and timing difference which
type of accounting generally used to followed . if anybody is having reply pls give the reply.

goods sold damaged during the transit what will be the effect of excise duty and cst what will be the accounting entry for that?

Any body can provide interest calculation sheet for bank cash credit a/c.

Hi,

This is a practical problem I am facing while preparing the financial statements of a foreign entity. "A" company received share application money of USD 30,000 which is inclusive of share capital and share premium in March 2009 in its USD bank account. The allotment of shares was done in April 2009. The share certificate states that the issued shares are 1,000 shares of EUR 1 each and a premium of EUR 23 per share. The USD/EUR exchange rate in March 2009 was 1.25 and in April 2009 is 1.50. The reporting currency is USD. Please suggest me on 2nd entry:

1st journal entry: (On receiving money in March 2009)
Bank Dr USD 30,000
To Share application money A/C USD 30,000

2nd journal entry:(On allotment in April 2009)
Share application money A/C Dr USD 30,000
Currency exchange results A/C Dr USD 6,000
To Share capital A/C USD 1,500(1,000*EUR 1*1.50)
To Share premium A/C USD 34,500 (1,000*EUR 23*1.50)

Do I need to recognize the currency exchange results on allotment of shares. Kindly advice.

How shuold the invoked Bank Guarantee accepted by the Bank but not paid to the beneficiary on the date of Balance sheet be reflected in the Balance Sheet of a Bank.

AT THE TIME OF PHYSICAL STOCK VERIFICATION FOUND EXCESS STOCK IN SOME ITEMS AND SHORT STOCK IN SOME ITEMS AND CAN'T FIND THE REASON FOR IT. THEREFORE REQUIRED ADJUSTMENT IN CONSIGNEE ACCOUNT.

WHAT IS THE ACCOUNTING TREATMENT TO ADJUST THE EXCESS STOCK AND SHORT STOCK?

Hi All,

I have a query relating to posting on rent expense as per US GAAP.Let us assume in 2009 we booked rent $5000 which should be $25000. now we are at march and december 2009 financial closed and audited as per US GAAP.
can you please tell me how we book this $20000 in current financial?
If you u want some more information just let me know.
Thanks,
Anil