M/s ABC Brothers, which was registered in the year 2000, has been following Straight Line Method (SLM) of depreciation. In the current year it changed its method from Straight Line to Written Down Value (WDV) Method, since such change would result in the additional depreciation of Rs. 200 lakhs as a result of which the firm would qualify to be declared as a sick industrial unit. The auditor raised objection to this change in the method of depreciation. The objection of the auditor is justified because (a) Change in the method of depreciation should be done only with the consent of the auditor (b) Depreciation method can be changed only from WDV to SLM and not vice versa (c) Change in the method of deprecation should be done only if it is required by some statute and change would result in appropriate presentation of financial 6 statement (d) Method of depreciation cannot be changed under any circumstances

1910

Is it legal for an organization to keep two sets of accounting records; one for tax and one for book? Why or why not?

2732

Suppose you buy a one-year government bond that has a maturity value of Rs.1000. The market interest rate is 8 per cent. (a) How much will you pay for the bond? (b) If you purchase the bond for Rs.904.98, what interest rate will you earn from this investment?

2106

Why current assets Liability said & current Liability Assets said...?at tally ERP9

1889

What will be the journal entry of purchase and sale for ac purchased for 40000 vat 5% sold for 45000 vat5%

1682

we are import a cnc machine, we have availed customs duty, CVD & Additional duty credit?

2009

A company purchase goods Rs.2000/- & input vat received rs.100/- but at the time he sold goods 1000/- as a sales & 1000/- as a sock transfer. plz tell me how much take input claim in this case.

2248

what are the direct expense of loan department in banks.

1524

Explain me scrap value in accounting?

1176

What are the probable interviwe questions in SBI clerical interview ? I am having my interview on 30th april.

2348

Explain me have you ever heard about tds, what it is?

1148

My question is that can i taken input credit of service tax of telephone bill & courier bill & labour contractore bills in exemption Area.

1948

Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Instructions: Prepare the necessary entries for the declaration and payment of the stock dividend.

2523

explain me what steps would you take to increase revenue for this company?

1078

Apportionment of expenses

2310