Accounts QnA - Page No 77

Sir,

If preoperative expenses and preliminary expenses are capitalized to which head we will write off these expenses and how many years it will written off in equal figures.

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CA.CS.V.Viswanathan

04 March 2010 at 19:50

Respected Experts

A company had taken 3 month Forwards Contract for $1000 on 1/11/2009 FC Rate 46.6 RBI on that date 46.2 and on 1/12/2009 another FC cover was taken (3 months )for $1000 the company paid the first amount $ 1000 on 1/2/2010..

Please show the Entry to passed on 1/2/2010
when ..

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harpreet singh

03 March 2010 at 10:08

Capitalisation of part of the premises (Partly constructed)

A company is in the process of contructing building of 20 floors. And 5 floors are almost completed and ready for its intended use.

My query is :-
1) can we do the partiall capitalisation for these 5 floors.?

2) Is there is any specific provision for the same in the Accounting standard?

3) If yes then what should be the basis for allocating the cost for these 5 floors?

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Akbar Mirza

20 February 2010 at 17:17

Depreciation on CCtv Camera

Respected Sir,
shall be CCTV Camera affixed in the factory premises of the company depreciate?

In which group it will fall?

Wht will be the rate of depreciation as per Co. Act & Income Tax Act?

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Anonymous

20 February 2010 at 09:49

ASI 10 Please reply

Hi, Experts,
We have a loan of 5 Milloin USD which was sanctioned on 1St April,2008, When the INR/USD rate was 44 Rs. So, it turns out to be 220 Million INR, loan. However the rate of exchange on 1st April,2009 was 48 INR/USD. So, it turns out ot be 240 Million Rs. loan. I would like to ask experts whether the interest rate differential wil be calculated, by comparing the interst of 5 million USD with 220 million INR or by comparing the interest of 5 Million USD with 240 Million INR.

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