Tax Invoice: Client had settled Rs. 5,25,000/- {after deducting TDS @ 10% from base/gross amount and then added (+) Service Tax Amount (15%)} which equals to Rs. 525000/- (Settled Amount by Client). Please let me know what will be gross amount and total invoice amount including Service Tax????

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expenses incurred in the formation of the company are show in : 1)debit side in the profit and loss a/c 2)as an assets in balance sheet 3) as an liabiliies in balance sheet 4) credit side in profit and loss a/c

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What's the accounting entry when an Invoice is created in AR?

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Journalize the Following: 2. Monthly credit sales were $ 35,000 3. Received Cash receipt payments on Receivables in the amount of $ 10,000. 4. Customers’ cheque in the amount of $ 100 bounces and was re-deposited. Book both entries. 5. Material is bought on account for £ 100,000. The exchange rate is Four pounds to One Dollar. Then, later, merchandize is paid for. The exchange rate is Five pounds to One Dollar. Book both entries in Dollar when merchandize is bought and when it was paid. 6. Materials worth $ 20,000 was purchased on account and paid for with 1% discount. Book both entries. 7. Record the purchase of Direct Material on Account in the amount of $ 20,000. Half of it was for stock and the other half for a specific job order. 8. Record the disbursement of $ 1,000 raw material to shop floor for use on specific job

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I have paid an advance for a supplier against delivery, Say Rs.500,on 20.2.2010. Later on 3.3.2010, I settle the balance of Rs.1500. How can i account this in tally?

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Is the Bills payable is personal account ?

2 Answers   Income Tax, Josts Engineering Company,

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What is an ERP?

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Tell me what does the investment of personal assets by the owner will do?

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whats the sales tax slab and company's turnover professional tax slab

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your company by machinary for Rs 3000000/-, what will be the maximum term lean avaible form bank?

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Here is a question i was asked below is the scenario need to enter journal entrries for both accounting system Cash and Accrual :- 1) Landlord A/c 2) Tenant A/c 3) Bills Receivable A/c 4) Cash A/c 5) Bank A/c Situation:- 1) Bill is created. 2) Bill is sen to the tenant, journal entry =? 3) Cash is received from the tenant, journal entry=? 4) Receipt is created. 5) Receipt is sent to the tenat, journal entry=? Its urgent, please help.

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As a Manufacturer we are paying service Tax on Inwards freight and the same amount we are taking as a credit against payment of Excise duty. So,Pls clarify how to pass JV

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