Answer Posted / rao m. shahbaz

Unlimited

what is Contra Asset?

13692

---

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.

1932

---

In financial management why we calculate the cost of debt, (cost of capital) while rate of interest is given.

2012

---

Dear sir i had been called for ntpc interview and gd next month..please guide me for it!

2821

---

What's the meaning of Preferential Creditor?

2215

---

Expand-------BANT

2210

---

Three steps for correction in BRS?

2186

---

What type of question generally asked in Brokerage Firm ?

2799

---

where is suspense entry is entered in tally erp9

1414

---

Explain why retained earnings have an opportunity cost associated?

3459

---

In case of new admission of partner what will be the adjustment for the sharing ratios

2083

---

why you would like to work for the our(AIRLINE) Group ???

2156

---

What exactly balance sheet depicts

2029

---

While posting of FB50 entry therE showing errro msg " NOT ASSIGN COMPANY CODE OR CALCULATION PROCEDURE"

1977

---

let me know the minimum Accounting Heads in an accounting system

4660

---