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Contra asset accounts have credit balance and are an offset
to a related asset account ?
true or false .
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where we can deposit the TDS Monthly Collection Amount form the Employees?
If any co. purchase goods from abc co. payment will made in advance. Can abc co. is creditor or not. Pls. answer.
What is accounting for plant assets?
What is deferred tax asset or libility ? please help with the best one answer u have. thanks all
5 Answers Carlson, DELL, Real Estate,
For example for formation of a new company/offshore company you need to show paid up capital of 100K but you don't have 100K you as a director borrow loan of 100K from 3rd party and deposit in the bank as paid up capital and issued shares of 100K in director name. After one week you return back 3rd part loan. What are the entries in the books?
Mr. A purchased a machinery costing Rs. 1,00,000 on 1st October, 2005. Transportation and installation charges were incurred amounting Rs. 10,000 and Rs. 4,000 respectively. Dismantling charges of the old machine in place of which new machine was purchased amounted Rs. 10,000. Market value of the machine was estimated at Rs. 1,20,000 on 31st March 2006. While finalising the annual accounts, A values the machinery at Rs. 1,20,000 in his books. Which of the following concepts was violated by A? (a) Cost concept (b) Matching concept (c) Realisation concept (d) Periodicity concept.
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Audit 
