Answer Posted / g. shanker

Preliminary expenses, which incurred for before
commencement of business. For setting up of any undertaking
or business (Preparation of feasibility report, project
report or for conducting market survey or any other survey
or engineering services relating to the business and Legal
charges for drafting any agreement for setting up or for
conduct of any business).
For Income tax purpose the following is the permissibe
expernditure.
(a)In case of company, 5% of Cost of Project or Capital
employeed.
(b)In case of any other business, 5% of the Cost of Project.
It will be allowed as deduction in 5 equal installments.

Paid vehicle insurance of Rs 12000 on 1-1-2009. Pass entry at the of payment and also create prepaid insurance account

2024

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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

1918

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What do you know about hyd? Tell something about hyd?

2262

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to attend interview for real estate company accounts

2070

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What is deffered income

2276

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how many types of practice accounts?

2011

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With a 600 credit score, how to improve my credit rating score?

1838

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why specifically inited states ?

1855

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EXPAND_________SDJMC

2322

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what is the cost and financial accounting? what is double entry system ?

2119

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What is Summarising

2441

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what is the step in preparing the schedule of audit? can someone explain for me?

2100

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What is Provision for expenses?

2257

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What are motive behind mergers And acquisitions?

2144

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Whats the Balnace of Closing stock so if we issued the materil then the Closing stick will be dr and in case we pirchsed the materil the closing stock will be cr so tell me that i m correct or not

7048

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