legal accounting methods to reduce profit of a partnership firm so as to reduce the tax liability?

3063

The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2

2345

If assume we paid 50/- as an advance for worth or 100/- goods, but our supplier sent only up to 25/- worth of goods. Know my question is that we want to close the transaction now and how it possible? What about vat like tax setups in ap and ar? What about the sweep command in ap?

1068

hi,when i am posting an entry on service tax it is not showing the business area.please guide me how to configure the business area so that the entry also shows the business area.please help as i need to configure it.

2117

th point in when will details wil get filled in ER1 2a and 2B?capg

1728

What are the steps involved in converting the trail balance of a foreign branch? Explain the steps involved in incorporating the foreign branch trail balance in HO books

2230

Can v transfer trail balance to journal entry how and with example?

2225

HOW DOES THE ROLE OF THE MANAGEMENT ACCOUNTANT COMPLIMENT THAT OF THE FINANCIAL ACCOUNTANT

1908

What elements of your job do you find most difficult

5724

Spinoff,Spelloff

2225

can i direct payment made t code f-53 to bsnl agst telephone exp.? or 1st create a/c.of bsnl and book in fb60 then payment made whose correct?

1992

Expand-------NSAC

1912

Expand-------ASRT

2133

what is the percentage of W.C.T T.D.S to deduct from vendor, and is this includes T.D.S deduction or again T.D.S has to deduct separately?

2477

entry for cash received from debtors

1557