s. mahesh


{ City } new delhi
< Country > india
* Profession * accountant
User No # 20074
Total Questions Posted # 0
Total Answers Posted # 6

Total Answers Posted for My Questions # 0
Total Views for My Questions # 0

Users Marked my Answers as Correct # 105
Users Marked my Answers as Wrong # 31
Questions / { s. mahesh }
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Answers / { s. mahesh }

Question { ADP, 32435 }

what is break even point?


Answer

B.E.P. = No Profit or No Loss (i.e. Zero)

Example:

The total cost of the porduct is Rs.100. and the selling
price is also same as Rs.100 which means it doesn't make
any profit as well as no loss is called B.E.P.

Is This Answer Correct ?    37 Yes 11 No

Question { 9446 }

Interest of Rs.30000/- is received from deposits Tds of Rs
7500/- is deducted by the bank
please pass the necessary entry for the same


Answer

Bank A/c Dr. Rs.2,2500.00
Tds Receivable(Certifiate) a/c. Dr. 7500.00
To Intrest Received on bank deposit a/c 30000.00

Is This Answer Correct ?    11 Yes 0 No


Question { 13993 }

i want to know the procedure of Tds ledger in tally for
Event management co,s means procedure of creating TDS
ledgers and how to know the outstandigs of Tds payable and
Receivables
plz guide me.........


Answer

Yes, Mr. Saurabh is correct. Also, you can make a voucher
entry in Tally there is an opption for cost centre when
ever you are going to deducting tds a/c. maintain the cost
centre for each party (cr.), which can helpful for the
section-wise. When you making the payment for TDS (Dr.)
This can be idenditify that party-wise how much we deducted
and deposited. Secondly, you can treat this as sub-ledger
also. (TDS A/c (Main Ledger a/c.) 194c (Sub Ledger A/c.) &
ABC a/c. (Cost Centre. If, you want more clarification pl.
contant maheshsundram69@gmail.com

Is This Answer Correct ?    19 Yes 7 No

Question { Gammon, 17385 }

If some service provider gives a bill having service tax.
say cost of service is Rs 100, He is adding 12.36% sevice
tax. Total comes 112.36. we have to deduct TDS @ 11.33%.

On what amount we should deduct TDS? (on 100 or 112.36 )


Answer

Mr. Honnurappa A. please explain and write to me
(maheshsundram69@gmail.com)so that I can understand as per
the Income Tax Rule and what is in practice of the
companies are following please.

Is This Answer Correct ?    0 Yes 1 No

Question { Google, 39401 }

Who maintains BRS (Bank Reconciliation Statement) ?


Answer

BRS Maintain by the account holder (i.e. Individual or
Company)some entries like Bank charges, Commission, Foreign
currency exchange fluctuation & Cheque returned charges
etc. these type of entries, we can know from the bank
statement only. Also, Clearance cheque- like cheque issued
& cheque depsoited by us. After taken all the entries into
the Bank book matching the balance with the Bank pass book.

Is This Answer Correct ?    34 Yes 8 No

Question { DLF, 8155 }

After closing the financial year i.e. 31st march.,
you have received a teliphone bill on dated 1st april
( And the bill was for the month of 1 mar to 31st march
i.e closing year's last month)what treatment you will do in
current financial year and closing financial year.


Answer

a). The entry should be passed on 31/3/09 as follows:

Telephone Exp a/c. Dr.

To Expenses Payable a/c. Cr.

(Being provision for telephone exp. payable for the month
of March'09)

b.)and one more entry tobe passed on 01/04/09

Expenses Payable a/c.Dr.

To Bank a/c. Cr.

(chq. issued for telephone exp. for the month of March.09)

Is This Answer Correct ?    4 Yes 4 No