Professional books of a/cs

RAJ KUMAR (FINANCE MANAGER) (1393 Points)

22 March 2012  

HELLO FRIENDS, CAN ANYBODY TELL ME MY CLIENT IS RUNNING HIS PRIVATE HOSPITALTHEY DONT SELL ANY MEDICINES BUT THEY PURCHASE THE MEDICINES AND CONSUMED IN THE TREATMENT OF PATIENTS.

CAN I SHOW ONLY OPG. STOCK +PURCHASES -CLG. STOCK IN THE INCOME AND EXPENDITURE A/C

ONLY STOCK CONSUMED AND SHOW THE CLG. STOCK IN BALANCE SHEET.

IS THIS TREATMENT CORRECT.

CAN I ALSO MAINTAIN THE A/C ON CASH BASIS OR MERCHANTILE BASIS BEACUSE THERE ARE SOME AMOUNT DUES TO THE CREDITORS AT THE YEAR END.

CAN I MAINTAIN THE BOOKS ON THE MERCHANTILE BASIS.

PLS. HELP ME.

THANKS.