Rent Paid Rs.12000/- (which is included for the whole year i.e Jan to Dec) and they have asked me to give Journal Entry for the Entry for the Month of Jan, Feb and March

34 Answers   Accenture, Genpact, Mercer,

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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.

0 Answers  

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Who is Home minister of India?

5 Answers   Genpact,

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what are athe accounting principles?

4 Answers  

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I have a existing Oracle applicttions and need to bring one of the new business on it. The new business will use GL, AP and FA. We will use existing COA. This business will have 3 sets of books (1- tax book, from April to March; 2- Primary book, from July to June; 3- Reporting book, from July to June); All books will have same currency; HOW DO I TRANSFER DATA FROM PRIMARY BOOK INTO TAX AND REPORTING BOOKS EVERY MONTH OR ON WEEKLY? IS THERE ANY STANDARD ORACLE PROCESS WHICH CAN BE SCHEDULED? THE REPORTING BOOK WILL HAVE DIFFERENT DEPRECIATION METHOD SO HOW DO I NOT TRANSFER DEPRECIATION FROM PRIMARY TO REPORTING BOOK AND DO SEPERATE DEPRECIATION IN REPORTING BOOK FOR THE SAME ASSET THAT IS ALSO IN PRIMARY AND TAX BOOK?. HOW DO I APPROACH ON SETTING THESE NEW SETS OF BOOKS? Thanks, KK

0 Answers   Genpact, Oracle,

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What is Contingent Liabilities?

3 Answers  

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What is most Expenses thing to Issue IPO ?

1 Answers  

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can anybody expalian about modern clasification of accounts

1 Answers   DAS,

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what is the difference between TAN and TIN?

3 Answers  

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what is difference between depreciation and amortization ?

5 Answers  

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Is the the invoice number and voucher no will be same most of the time or it should be same?

1 Answers  

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Difference between Depreciation and amortisation?

3 Answers   Genpact,

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