Answer / sankaranarayanan

Preliminary expenses is an expenses which is incurred by the company before the registration of company, like legal charges, registering fees, etc, whatever the expenses which has been spent by the company to start the new company is called preliminary expenses, later it can be written-off.
It is shown on the assets side of the balance sheet in the last part.

Single Entry system is an incomplete system of recording the transactions, it has been mainly maintained by sole trader(small level business), it will affect only one side.

Double Entry system is an complete system of recording the transactions, there is a debit always there will be credit.

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Hi,Friends, I have a simple question in my mind that I have one head office that in faridabad and other branch in delhi,i purchase material in delhi for availing the tax benefit in delhi then i transfer the same material to head office(faribabad) agianst "F" form,i purchased material in delhi basic price rs. 5 +.42 taxes it comes rs. 5.42/-,my question is on which amount i should transfer the material from delhi to faridabad i.e 5,5.42 or 5 + freight(if any).kindly please solve my problem.

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