The partners agreed to take hero honda vehicle of Rams as
firms vehicle by giving credit to his capital account. The
vehicle was valued for Rs 65000/-Pass necessary entry
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TDS RECEIVED WHERE WE HAVE TO SHOW IN BALANCE SHEET
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HOW TO CALCULATE NAV? If investment Rs 70000 ( unit 1689.197), dividend recd.Rs.10135.18
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.
What are write off entries to be passed say if im having payable of Rs. 400 standing in the balance sheet and I want to write it off...
is there any difference in contribution and net profit? if yes what is that?