XYZ Company sells goods on a gross profit of 25% depreciation is taken into account as a part of cost production. The following are the annual figures given to you: Sale (Two month's Credit)18,00,000 Materials consumed (One month's credit)4,50,000 Wages paid (One month lag in payment)3,60,000 Cash manufacturing expenses (One month lag in payment)4,80,000 Administration expenses (One month lag in payment)1,20,000 Sales preomotion expenses (Paid quarterly in advance)60,000 Income tax payable in four installments of which one lies in the (next year) 1,50,000 The company keeps one month's stock of both raw-materials and finished goods. It also keeps Rs. 1,00,000 in cash. You are required to estimate the working capital requirements of the company on cash cost basis assuming 10% safety margin.
Answer nowwhat is the literal meaning of travellers commission n why will it be distributed in case of pre n post incorporation in sales ratio?
Answer nowplease tell me reverse Bid, is it right there is a small buy a big firm.
Answer nowDear Sir/Mam,
Where 'Deferred Government Grants' and 'Unclaimed MAT Credit Entitlement' shall be disclosed in the Balance Sheet as per revised Schedule VI?
My question is only for expert that i have problem in solving a question in cost accountancy (ie in marginal costing chapter)
Can any expert can give me his/her name who can solve my problem(so that i can directly ask from expert).Because i have given my question in forum but not getting any response.So i request you to come at this platform to help me.
If Public co. had paid Income tax in MAT of Rs.24 Lakh (FY 12-13), whereas neither made provision for tax in FY 12-13 nor any shown any entry relating to MAT or payment of tax.
Assume that tax as per Income tax is zero because of losses in FY 12-13.
Kindly suggest us what are the entries to be pass in book in FY 13-14 relating to above.
If assessee is an individual and engaged in the business of financing purchase of goods on Hire Purchase, will Service Tax provisions apply on interest received in this?
Please reply.
HI,
OUR COMPANY FOLLOWS THE RATES OF DEPRECIATION AS PER INCOME TAX ACT,FOR PREPARATION OF ITS FINAL ACCOUNTS. MY QUERY IS WHETHER WE CAN USE THE RATES AS PER INCOME TAX ACT IRRESPECTIVE OF WHETHER THEY ARE MORE THAN THE MINIMUM RATES GIVEN IN COMPANIES ACT OR NOT. IS IT SUFFICIENT IF THE TOTAL DEPRECIATION CALCULATED AS PER INCOME TAX RATES IS MORE THAN THE ONE AS PER COMPANIES ACT OR IS IT THAT WE HAVE TO CONSIDER EACH ASSET CLASS INDIVIDUALLY.THANKING ALL YOU READERS IN ADVANCE.
Is the difference of sources over application equal to net increase in assets,in case of individual?
Can any individual do the business of forex trading by taking money from people and investing in Foreign exchange and in return give them interest on such money?
Or there are some restrictions?
Please reply
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)
Working capital on cash cost basis