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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.
1932how i got knowledge about custom and excise i want rate list of custome and excise how we summit return of custom and excise , Is it include with ser. tax
2118hi i done mba finance...2008 1 year exp in kpo 1 year i did nt do any job i know all d accounting packages now i am in job search but my exp is not helpful to me ?how can i approach now?
1 3557What are the ratios (in addition to current ratio) to be considered while preparing CMA data ?
2 6093i want the steps involved in the customization for the process order. my situations is if i take the process order for x qty then stores people can issue only x qty not less or not more. how to do this. pls help me
1889Post New Accounting AllOther Questions
How Are The Balance Sheet And Income Statement Connected?
outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited
how history is helpful for banking?
define accounting,scope of account , types of account ?
.,can someone tell me how to compute the subscribed capital share?
EXPAND_________SEB
what is the scenario of multi-org setup?
what is mean by traditional accounting ?
which name written in Tan application form Applicant is sole proprieter companies name or individual name?
How to calculate closing stock? I have opening stock of 72 lacs (average costing without tax) and purchase of 49 lacs (with tax) and sales of 101 lacs (without tax). What is my closing stock then???? Should i add tax in sales? Where all should tax be included and where all should tax NOT be included? Right now i calculated => 72(no tax)+49(with tax)-101(no tax) = 20 lacs. IS this correct?
Is advance paid wages has credit balance?
What is Merchandising Accounting process
Short Answer on _____________Intangible Assets
INTE3RNATIONAL ACCOUNTING STD
Define control account Thanks
