Mohan started business with Rs. 10,000.00 cash and Rs. 2,000.00 furniture. Sales amounted to Rs. 50,000.00 including Rs. 5,000.00 cash sales. Rs. 10,000.00 sales were outstanding at the end of the year. Purchase amount* to Rs. 30,000.00 including Rs. 10,000.00 cash purchases Rs. 15,000.00 has been paid to creditors. Expenses paid during the year 19,300. Trial Balance total will be

Please explain the Procedure to solve this sum and then give the answer

Dear Sir,

We are constructing a Check dam in a rural area. For this work we are getting water tanker. The water tanker is belong to a village and does not have the bill. kindly suggest is TDS is applicable in this case and what amount it is exempt.

Secondly we are doing plantation work in city and for this we are getting water tanker for plantation. The water tanker supplier has bill. In this case should we deduct TDS and what amount it is exempt.

Kindly also clarify the rate of TDS if it is applicable.

Thanks & regards

Ravindra Kumar

Dear Expert I'm literally confused We transfer business profit to capital account every year. My question is when used this capital in business and what is intention of capital in business

if in purchase invoice,
total : 600000
(+) freight advance: 10000
grand total : 610000

then , that 610000 should be the purchases or only 600000 will come in P/L ??

Siir,please tell me how to account for news paper printing press such news paper sold via agencies and of on station stall by our vendorand purchase

if freight is not passed to buyer ... then that freight will be included in purchases or not??

Dear Sir/ Madam

What are the things to be kept in mind while preparing :

1. Projected Profit & Loss and Balance Sheet
2. Estimated profit & Loss and Balance sheet

Thank you
BIKASH RAI

What in case Gst input is higher than Gst out..... How can we claim....

Sir /Madam, any body help me to pass GST payable out - input gst payable entry in Tally

Dear ExpertMy question is I paid loan processing fees for loan. Can adjust that fees in monthly instalments.