Please let me know:



When Letter of credit is opened in favour of Seller by the company



1) what accounting entry needs to be passed?



2)What disclosures are to be made in notes to accounts?


Please answer questionwise.Thanks.

Please let me know:

When Bank Guarantee is given on companies' behalf

1) what accounting entry needs to be passed?

2)What disclosures are to be made in notes to accounts?

Please answer questionwise.Thanks.

MrAXZ co. received goods on 30.03.2008 but received invoice only on 25.04.08.
How should the liability be recorded?
Should we create a liability in the name of the creditor or park in the deferred account?

In Last year balancesheet due to incorrect formula apply in excel sheet the deferred tax liability turns into deferred tax assets. the same has been audited and signed by the auditor. Can the same be rectify in this year by reversing the entry or to go with this in this year
please reply earlier.

my client business of garments etc.purchaser give free Shirt but my client free goods sale on M.R.P. through Bar coad.sopose purchaser name Aditya birla novo ltd give free goods through invoice and sale M.R.P.PLS Tele me accounting entry in books.

In Consolidation, minority interet is shown in th P & L Account and also in the Balance Sheet. Is this A/c a regular ledger account ( Lizbility) so that in the next year, th profit /loss attributable to Minority interest is added to /deducted from the opening Balance?

In Consolidation, minority interet is shown in th P & L Account and also in the Balance Sheet. Is this A/c a regular ledger account ( Lizbility) so that in the next year, th profit /loss attributable to Minority interest is added to /deducted from the opening Balance?

In Consolidation, minority interet is shown in th P & L Account and also in the Balance Sheet. Is this A/c a regular ledger account ( Lizbility) so that in the next year, th profit /loss attributable to Minority interest is added to /deducted from the opening Balance?

In Consolidation, minority interet is shown in th P & L Account and also in the Balance Sheet. Is this A/c a regular ledger account ( Lizbility) so that in the next year, th profit /loss attributable to Minority interest is added to /deducted from the opening Balance?

Upgradation of software expenses - whether it should be treated as Capital or revenue expenditure.

For instance whether expenses incurred in connection with upgradation from MS 2003 to MOS 2007 will be treated as capital or revenue.