Which account will be debited in case of freight paid for transporting goods returned to supplier(Purchase Returns) in the books of the buyer.

A civil work bill raised amounting of RS 100000/- but the bill was settled for Rs 950000 as Full and final payment. shall the difference amount shown as discount received. What is the journal entries

During import of goods, we receive invoice from CHA containing their agency charges and other charges which are included in GST. It also has Receipted charges from third party service providers which are billed to me but paid by the CHA. In this case, how should I do entries in Tally for the same?

Hello, Please help me on the below query

A proprietor receives service from a sub contractor who does not have a GST registration. Would this service received attract RCM?

Will I have to pay GST as RCM for this kind of services?

Dear sir/Madam,

I need help of your, I have to handle and mange account Account payable and Receivable of Accounting in excel format for weekly reprot.

would you help to provide best format in excel for handle expenses and income day to day

what is under inventories on 31st March
Bought out goods and stock in transit

Loss On sale of Fixed Assets,
Loss on sale of investment
Loss on Foreign Currency Transaction
Loss on Intraday sale of shares
Bad Debts
Bank Charges


Please reply

How to reverse a contra voucher

CIF for import of goods
FOB for export of Goods.
CIF what cost include and
FOB what cost inclue.
Please reply

Tasman Products, Limited, of Australia has a Maintenance Department that services the equipment in the company’s Forming Department and Assembly Department. The cost of this servicing is charged to the operating departments on the basis of machine-hours. Cost and other data relating to the Maintenance Department and to the other two departments for the most recent year are presented below.

Data for the Maintenance Department follow:

Budget Actual
Variable costs for lubricants $ 332,200* $ 425,860
Fixed costs for salaries and other $ 212,000 $ 228,200
*Budgeted at $22 per machine-hour.

Data for the Forming and Assembly Departments follow:

Percentage of Peak-Period Capacity Required Machine-Hours
Budget Actual
Forming Department 71% 10,000 12,000
Assembly Department 29% 5,100 4,100
Total 100% 15,100 16,100
The level of fixed costs in the Maintenance Department is determined by peak-period requirements.