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Explain howyou would account for the following
items/situations,justifying answers by reference to the
conceptual frameworks defintion and rcognition criteria.
a)A trinket of sentimental value only
b)You are the guarantor for your friends bank loan
i) You have no reason to belive that your friend will
default on the loan
ii) As your friend is in serious financial
dificulties,you think it is likely that he will default on
the loan
c)You receive 1000 shares in X Ltd,trading at $4 each,as a
gift from a grateful client.
d)The panoramic view of the coast from your cafes
windows,which you are convinced attracts customers to your
cafe
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Q13. Journalise the following transactions: Proprietor withdrew for private use Rs.4000/- from bank and 6000/- cash. Goods Costing Rs.5000 was burnt by fire. Purchase Machinery for cash Rs.150000/- and paid Rs.2000/- on its Installation. Charge 5% Depreciation on building costing Rs.200000/- and 8% Depreciation on Furniture costing Rs.5000/-. Prepaid Salary Rs2000/- Kapil who owed us Rs20000/- become insolvent and nothing is received from his estate.
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Please mention the procedure of Deducted TDS on Salary? If My Salary is Rs.250000/- PA. than how to deduct TDS on it?
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