Dismissed the watchman after paying him Rs.200 towards his
salary.?
state whether the the following transcation is business
transcation or non business transcation? with reson or
explaination?
- 2 Answers
- 3421 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
This is a business expense as it incurred in the normal
course of business and it is related to such business.THere
cannot be any other reasoning assuming it is a transaction
of usual nature. however, there could be question on the
treatment of such expenses i.e., as salary or retrenchment
compensation and it will depend on the facts of the case.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / sankeerthana
Hullow my dear Babu before answering your question I would
like to correct a word in all your questions. In your
questions you asked the following.pl correct it as above
in the place of following.Now coming to the answer. You
yourself mentioned the payment made to watchman as salary.
Then you or I should not doubt the expenditure belongs to
business or other. another comment will be the employer may
order the employee to quit the job in two circumstances.
1.If not satisfied with his services
2.In the opinion of removing the catogory. In the above two
circumstances the employee will be paid the balnce salary
or additional amount at the time of removal.
How do you feel my answer, if any comment pl pass it
thru the website or to my
mail.id.sankeerthanaannavaram@yahoo.in
| Is This Answer Correct ? | 0 Yes | 1 No |
Expand C I F
what is contigent liability and state some examples also.
how many types of practice accounts?
What accounting records must a non-company charity keep, and for how long?
what is the golden rules of accountancy ?withdrwal frm atm what will be the transaction ?
where we have file E-returns in SAP FICO-CIN/Wtax?
What exactly balance sheet depicts
Expand-------NAC
What is the difference between Depriciation and amortization?
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.
Hi, I would like to check if my understanding is correct I have a negative amount for provision of income tax in my balance sheet from my previous financial year.What are the accounting treatments for income tax paid and then refunded to you for the current year? Is this correct? For payment Dr provision of income tax cr bank For tax refund Cr provision of income tax Dr bank Do I need to input anything in income tax expense acct?
EXPAND___________NAA
Audit 
