Dear Sir, i am working automobiles manufacturing company.
pls tell me following under head in tally 9.00:-
Type of A/c= ledger under creat
Sales = Sales Account
Purchases= Purchase Account
Excise Duty on Sales=????
Education & she=???
Cenvat on Purchase=???
My income for the current year from Hiring Earth Moving
Vehicle to a contractor will be 250000/-my total savings
are 125000,payment of my childrens tution fees will be 35000
So mine will be below taxable income .Pl let me know
whether there is any chance to escape from TDS
obligation.If so Pl let me know the procedure
What are the accounting conventions and Practices?
Ganesh & Gopal joined a firm drawing salary of Rs 25000 per
month.After serving 3 yrs ,they started business of their
own in partnership,contributing Rs200000(expected life 10
yrs,bought spare parts worth Rs 33000 from Kundu on
credit.Office supplies were purchased for cash.Initially
they were very busy in conducting their business operations
but by the end of the 1st year,31/12/2005 they were
disappointed when they found their bank balances.Following
is the summary of their bank statement.
Receipts: Share Capital Rs 250000
Collections from Customers 412000
Payments: Equipment 200000
Salaries of Assistants 88000
Rent advance for 2 yrs 96000
On-year ins. Policy on equipment 12000
Office stationery 27000
Payment to Kundu 29000
Withdrawals of Ganesh 90000
Withdrawals of Gopal 90000
Closing balance c/d 30000
Total : 6,62,000
Still amount receivable from customers for services to them
amounted to Rs 30,000 & closing balance of office stationery
is Rs2000,spare parts Rs2600 were utilised by the end of the
year .Prepare trial balance with the available information
and show total.
Also what is the net profit.
IF XXX GOT AN ORDER FROM APTRANSCO AS WORKS CONTRACT NOW
XXX PLACED AN ORDER TO YYY THAT TO SUPPLY 50% OF THE
MATERIAL IN ORDER.
NOW WHAT IS THE SALES TAX RATE HAVE TO CHARGE BY YYY TO XXX.
NOW MY DOUGHT IS YYY IS NOT SUPPLING THE GOODS TO
APTRANSCO, HE CANT CHARGE 4%, IF POSSIBLE PLEASE TELL ME
THT HOW CAN HE .
what is the meaning of profit and loss account
what is buy bach shares?
a bill for Rs.250 accepted by pritam, a costomer was passed
through bills payble book (what will be the correct entry)
Sir My, Que. We recived hotel housing & bording charges so
i have dedu. tds when section
Suresh agreed to adjust Ramesh due amount of Rs 15000- from
his credit balance
after payment of interest of a loan account by using credit
note voucher in tally 9........don't anyone thinks that we
have to adjust the cash account by passing cr entry on journal
for interest payment...
Can a firm claim preliminary expenses
incurred(manufacturing) or only its is applicable to
Companies? can a firm claim ,1/5 of such expenses incurred
as deduction as in case of Companies? or any other procedure.
A individual advocate recievs legal fees. is he liable to pay
service tax @ 12.36% on it?
What is Labour Cess? Pl. define. & what is rate of Labour cess.
what do you maen by Expected rate of return ?
Is there any formula for expected rate of return?
what is systematic & unsystematic risk ?
how to calculate both the risk?
how we can calculate sundry debtors and crditors a/c?show
hdn Systems Pvt. Ltd., manufactures a consumer durable
which passes through two processes M and N. From the
following details prepare necessary process ledger accounts
bringing out clearly the cost of the product at each stage.
Process ‘M’ Process ‘N’
Materials (Rs.) 30,000 3,000
Labour (Rs.) 10,000 12,000
Overheads (Rs.) 7,000 8,600
Input (units) 20,000 17,500
Normal loss 10% 4%
Scrap value of loss (per unit) Re. 1.00 Rs. 2.00
There is no opening or closing W-I-P or stock at processes.
Final output from the process ‘N’ was 17,000 units