Mr X has invest Rs.150000/- from his saving bank a/c for
fixed deposit after maturity he received with interest amt
Rs.165000/- He requested bank to renewed the same excluding
inst amt.Bank after deducting charges credit the insterest
amt to Mr. X a/c..pass the Journal entry in the books of MR.X
What will be the entry for transfer of fixed deposit amount
to their current a/c. (ie. if we hav a FD of Rs.600000 with
the bank, we need to close the FD and transfer the amount
to the current Account.
kindly provide me the entry for this.
What should be the entry passed for TDS deduction by the
Company and tds deducted on the Company?
Can tds refund on FD foreclosure be adjusted aganist the
tds deducted on the Company?
Q1. What is the TDS rates for the current year 2009-10.
for commission, Rent , contract and sub-contract Advertising.
Q 2. What is the current year professional tax slab.
If we got a printing jon we are adverstising firm for that
we purchase paper from local dealer which contain vat 4%
now when i bill to the person from whom i got a priniting
job what should i consider this as service or sale and what
tax i charge, i don't have vat no. but i have service tax
no.?
2. You are required to prepare a Profit & Loss
Account for the year ending 31st December, 2007 and the
Balance Sheet on that date. The Trial Balance of XYZ Ltd.
for the year ended 31st December 2007 is as follows:-
Trial Balance of XYZ Ltd. as on 31st Dec. 2007
Debit Balances
Rs.
Credit Balances
Rs.
Materials used
3,50,000
Sales(including 2% Sales tax)
9,18,000
Cost of Labour
1,50,000
Sale of Scrap
100
Stock, finished and work in process on 31st December, 2006
50,000
Rent received
2,000
Wages : Factory Staff
15,000
Discounts
2,750
Directors Remuneration
50,000
Recovered against fire claim re : Stock
5,000
Salaries : Clerical Staff
75,000
Capital : Equity
25,000
Insurances : Workmen’s Compensation
1,500
Preference- 9%
8,000
General, fire etc.
2,000
Creditors
1,56,000
Directors’ Life Insurance
1,500
Provision for Taxation
1,05,000
Maintenance : Buildings
1,000
Profit & Loss Account
13,750
Plant and Machinery
12,500
Rent and Rates of premises and hire of plant
20,000
Heat, Light and Power
15,000
Experimental and Laboratory Expenses
10,000
Canteen Expenses
5,000
Staff Welfare expenses
2,500
Motor Expenses
12,500
Professional Charges
2,800
Postage and Telephone
3,500
Books, Printing and Stationery
11,000
Sundry expenses
10,000
Carriage and Packing on Sales
3,300
Discounts
5,000
Debtors
1,78,000
Freehold Property
50,000
Plant and Machinery
12,500
Fixtures and Fittings – Offices
3,500
Office machinery and Equipment
3,000
Motor Car and Van
6,500
Stock of materials on 31st Dec. 2007
1,20,000
Bank
38,000
Sales Tax Paid
15,000
12,35,600
12,35,600
Depreciation is to be provided at the following rates:
Plant and Machinery
10%
Fixture and
Fittings 05%
Office Machinery, etc.
10%
Motor Vans and Cars
25%
The stock of finished goods and work in progress as on 31st
December, 2007 was Rs. 35,000. Provide for preference
dividend and ordinary dividend at 10%. The total taxation
liability is estimated at Rs.1,50,000 of which Rs. 75,000
relates to the current year.
Debtors include Rs. 10,000 deposited as security against
government contracts.
The Works Manager is paid partly by salary and partly by a
commission; he is entitled to a commission of 5% on the
amount by which the surplus in the factory cost exceeds 20%
of the sales for the period. Charge the commission if any
in the Profit and Loss Account.
Define Salry for the following purpose
1.To calculate HRA
24
what are the questions commomly asked in reuter's
interview.?
139
Hi...At present am doing my second year B.Com.I want to do
Chartered accountant.Could you send me the details such as
when i can start this course,levels of course,proceudre to
start( training and prerequirement if any)?And also do let
me know is it possible to start from madurai.Note: I wanted
to start by regular classes not by distant education.
Thanks in avance.
91
Short answer on _______Amendment
15
Short Answer on _____________Revenue Budget
10
distinquish between liquidity ratio and asset management
ratio
57
Expand-----RTD
17
Expand-------NBTA
12
Can anyone plz. tell me where can i get the proforma
application for DAO.I have tried all the links but i
couldn't find any application proforma in the notifications.
55
Upto what age PF will be deducted for an employee? And what
age he is eligible to gratuity?
26
someone plz plz plzz.. send me the sample papers for SBI
clerical xams... i need it very badly..
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