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Will it be fine if private Ltd Company do not follow depreciation rate as per The Companies Act,1956 & follow Depreciation Rates as per Income Tax. Also is it necessary to claim VAT Setoff on Asset Capitalised only after some percentage of retention.

when is the closing stock shown in the trial balance?

Infosys,

what is the key factor while making cash & fund flow statement?

What is the role of Internal Auditor?

THIS QUESTION IS RELATED TO PAY ROLLS IF ANY BODY HAS THE FORMULAES IN EXCEL ABOUT PAYROLLS CALUCULATIONS PLS HELP ME OUT

what is journal for Credit purchase

Ernst Young, Genpact,

What is Cost audit & its Type?

what is monthly closings.

OPI Global,

Is Taxi bills allowed to claim the LTA?

what is a contra entry how it is passed in journal and cashbook?

State which of the following are Cash transactions, and which are credit transactions: Questions Answers 1. Anil commenced business with Rs.10,000 2. Bought goods for cash Rs. 2000 3. Bought goods from Balaji on account Rs. 4000 4. Paid Balaji on account Rs. 500 5. Commission received Rs. 50 6. Commission due to Raj Rs. 100 7. Took Loan from Bank Rs. 20,000 8. Interest on loan due to the bank Rs. 200 9. Paid salaries Rs. 200 10. Sold goods for Rs. 1000 11. Sold goods to Eshwar on account Rs. 2000 12. Received from Eshwar on account Rs. 100

Classify the following accounts into Personal Account, Real Account & Nominal Account. Questions Answers 1. Furniture Account 2. Salaries Account 3. Outstanding Wages Account 4. National Trading Co. Ltd’s Account 5. Stationery Account 6. Prepaid Insurance Account 7. Capital Account 8. Interest Account 9. Building Account 10. Purchase Account 11. Cash Account 12. Bank Account 13. Sales Account 14. Commission received in Advance Account 15. Discount Account 16. Drawing Account 17. Loan Account 18. Mysore Store’s Account 19. Repairs to Machinery Account 20. Stock Account 21. Investment Account 22. Loose Tools Account 23. Bangalore Sports Club’s Account 24. Loss of Goods by Fire Account 25. Motor Vans Account 26. International Trader’s Account 27. Goodwill Account 28. Depreciation Account 29. Bad Debts Account 30. Bad Debts Recovered Account 31. Bank Overdraft Account 32. Book Debts Account 33. Purchases Returns Account 34. Sales Returns Account 35. Postage Account 36. Charity Account 37. Carriage Account 38. Rent Account 39. National College’s Account 40. Bills receivable Account 41. Bills Payable Account

Bisleri, Income Tax,

State with reason which account should be debited and which account should be credited in each of the following transactions: 1. Raj commenced business with cash Rs. 5000 2. Bought goods from Kiran for cash Rs. 1000 3. Sold furniture to Ravi on credit Rs. 500 4. Sold goods for cash Rs. 800 5. cash purchases Rs. 600 6. Bought Stamps Rs. 10 7. Withdrew cash from the business for personal use Rs. 1000 8. Paid salary to manager Rs. 500 9. Paid rent to landlord Rs. 200 10. Received commission from Mani Rs. 50 11. Paid for repairing machinery Rs. 30 12. Received cash form Ravi on account Rs. 400 13. Gave loan to Babu Rs. 500 14. Purchased goods from Sachin Rs. 400 15. Opened a bank account with Rs. 1000 16. Charged Mohan Rs. 50 commission for service rendered to him 17. Santosh paid the interest on loan advanced to him 18. Received loan from Manju Rs.10000 19. Office furniture stolen Rs. 500 20. Paid income tax Rs. 5000 21. Paid life insurance premium Rs. 300 22. Allowed discount to Babu Rs. 90 23. Discount received from Santosh Rs. 150 24. Amount charged by bank as bank charges Rs. 30 25. Railway fright paid on machinery purchased Rs. 100