my boss (Managing Partner of a firm) promoted along with his wife a private limited company. he and she spent some Rs. 75,000/- (approx) for the promotion of the company. i know that they usually fall under the head of preliminary expenses. but after receiving the certification of incorporation of the company how shall i repay them to the promoters i.e. what is the accounting entry in the books (initial books of accounts) for the expenditure incurred. they have kept in hand 5,00,000/- each to meet the expenses and they were allotted shares of equal to the amount. can i allot shares for a consideration of cash from and excluding the preliminary expenses. can i take cash towards the share application money (being the cash more than Rs. 20,000/-) as the company has not opened a bank account yet. please give me the detailed answer with journal entries that can be entered in tally. thank you.
1509how i got knowledge about custom and excise i want rate list of custome and excise how we summit return of custom and excise , Is it include with ser. tax
1672hi i done mba finance...2008 1 year exp in kpo 1 year i did nt do any job i know all d accounting packages now i am in job search but my exp is not helpful to me ?how can i approach now?
1 2942What are the ratios (in addition to current ratio) to be considered while preparing CMA data ?
2 5042i want the steps involved in the customization for the process order. my situations is if i take the process order for x qty then stores people can issue only x qty not less or not more. how to do this. pls help me
1443Post New Accounting AllOther Questions
bank exam paper
please send me last 3 years question & solution
Can anybody send me Interview questions & Answers to me IN Accounts & finance my Mail ID - virupaksha_krt@rediffmail.com
Who to create a budget on software company
If income and expense both are equal then what it depicts
Mr. X buys an asset of Rs. 1000/- in cash and with it get an free gold coin what is the general entry for this?
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
plz send all previous question papers for SBI clerical post.My email id is mechabhilash6@gmail.com
I want to know how to get Appeared to the examination of State bank of India. And how can i find the question Book Series.
what is ZBA hold & balance hold in banking?
A company produces and sells 12500 units of Commodity X at Rs 50 each. The variable cost of the production is 20 % of selling price. Fixed cost being Rs 100000 per annum. Calculate the PV ratio and BEP if. The selling price is reduced by 5 %. Fixed cost is increased by 2 lacs
What is the relationship between, issued share capital, share premium and paid up capital?
What is pre-paid amount? What is post-paid amount? Explain received in advance? Explain paid in advance?
how there prepare bank interview
If we spend a sum of Rs.10 Lacs towards Processing and Upfront fee for obtaining working capital term loan. can we treat this amount as a deferred revenue expenditure or not
