Answer / h.r. sreepada bhagi

If AMC Charge is paid in the middle of a Financial Year for
that year & next year, then calculate it prorata based on
No. of days from the AMC commencement date to the last date
for eh Financial year & for next year from the 1st day of
the financial year to the last day of AMC.

Eg. AMC paid Rs.28000/- for the period 25-10-20X0 to
24-10-20X1 - For the year ending March it's for 158 days -
Rs. 12121/- & for the next year it's 207 days - Rs. 15879/-

Rs. 15879/- shall be shown as Prepaid Expense in the year
end Balance Sheet.

Tell me,as per companies which section P&L Account and balance sheet will be prepared

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i got a case study in which theie is a chemical company group which has 12 companies in all, few in Europe and few in USA, my question is should i have only 2 COA as per the standard like US GAAP and IFRS or should i have COA based on country location.

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WHAT ENTRY PASSED IN BOOOKS OF ACCOUNT IF INVOICE BILING AS UNDER :. SUB TOTAL = 428325.45 VAT @12.5%= 53540.68 Additional vat 1%= 4283.25 ORDER DISCOUNT = (9722.99) ROUNDED OFF = 0.39 -------------------------- NET AMOUNT = 476426.00

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