Solution of Problems in Comments

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1. Why sales/purchases is real account? why not nominal account? please clarify my doubt? thanking you By Anonymous on How to Consolidate Financial Statements on 6/29/12 Solution: Because both are not related with service but with transfer of product. The physical asset's decrease or increase will be affected real account's rule. If we have provided service or received service,we have paid money or received money, then we apply the nominal account rule on it.

2. I am just here cause I need to write 100 reasons why u should pay attention By Anonymous on How should Students Behave in the Classroom on 6/28/12 Solution : I start the essay, you can write more like this. 1. Because it is important to understand anything, if your attention will be outside, you will learn nothing. 2. Time is very limited, you will not get another chance for paying attention. 3. It is helpful for teacher because when he sees that students are paying attention, he can teach more better way.

3. Very good explanation sir. One clarification - If a share is trading at Rs.100 in India and GDRs are used, and if the exchange rate prevailing at the time of issue of GDRs is Rs.50, then the number of GDRs issued to an American investor who is willing to subscribe for 100 shares will be two GDRs. Am I correct. Prakash Raj By Prakashjjs on Procedure of Issue GDRs on 6/26/12 Solution : Prakash Raj, it is not necessary. Actually, different company's GDRs will be different. Check at here.

4. Dear Vinod Sir, I'm not a tally/Accounts professional, but I do work on tally. I have a doubt. like can we use tally for simple accounting. for eg. If somebody gave me Rs 50000 that I have to use for daily expense. what all entry I have to post, if it is a new tally. Thanks By Avinash on Ledger Creation in Tally 7.2 on 6/20/12 Solution : If you have paid the expense then you have to pass the entry in the voucher. Actually, I think, you have received Rs. 50,000 for pity expenses, it should be recorded in rough page.

5. I will like to know, If interest on drawings is charge at 10% per annum, an a partner withdraw $12000 on December 31,end of financial year, how do i calculate the interest? thanks By Anonymous on Calculation of interest on drawing in partner ship... on 6/15/12 Solution : Nothing will be charged because withdraw is in the end of financial year.

6. Can I do B.Com correspondence from Shri ram college ? By Anonymous on M.Com. Correspondence from University of Delhi on 6/10/12 Solution : Actually, university has the authority for operating correspondence course, so, please contact the university instead of college.

7. Hi for starting in ledger I make ledgers like all creditors and debtors purchase and sales account but I can't make purchase entry is there any other ledgers missing by me ravi punia By ravipunia on Ledger Creation in Tally 7.2 on 6/5/12 Solution : Did, you create the stock items and units of measurement?

8. Sir I am teaching Tally in my own Computer Institute but I am facing some problem like if I purchase a tempo for delivery then how can pass the entry and under which group. 2nd I am purchasing shop then how can pass entry. I am conducting tally class first time so some quires are facing. By suerkha on Solution of Top 10 queries of Accounting and Tally... on 5/30/12 Solution : Suerkha, both shop and tempo are the fixed assets, if you have bought on cash, then just use the payment voucher otherwise, you need to pass it in journal voucher. Before this, create the ledger account of tempo and shop.

9. 1)Cash received from a debtor in full settlement (When cash discount is allowed). Amount receivable from ABC Company AED 1172, received from him AED 1000. a) Cash In Hand 1000 Dr b) Discount Allowed 172 Dr c) ABC Comp 1000 Cr d) ABC Comp Dis, agst inv--- 172 Cr because we are showing Dis, in ABC statement am right or wrong please tell me Thank you my friends By Ghulam Ali on Journal Entries Examples on 5/29/12 Solution : d) is wrong, no need to show 172 cr. . a), b) and c) are correct.

10. I'm using tally9 trail version. I create someone company time period 1-4-12 to 31-3-13. some date are not enter in this time period and after sometime, my tally is crash and show a massege "close the programme". I'm using win7 ultimate. By Rajender Karakoti on Solution of Top 10 queries of Accounting and Tally... on 5/10/12 Solution : Try to install tally from official site of tally solution company.

11. Downey Corporation sold $400,000 of 9 percent, 10-year bonds for face value on September 1, 2011. The issue date of the bonds was May 1, 2011. The company’s fiscal year ends on December 31, and this is its only bond issue. Record the sale of the bonds on September 1 and the first semiannual interest payment of November 1, 2011. What is the bond interest expense for the year ended December 31,2011? By jfowls on Solution of Accounting Problems on 5/7/12 Solution : 400000 X 9% X 4/12

12. Hi sir, I am confused in cost center can u tell me how can I use that in ledgers as well as in voucher entry By aaaa on Ledger Creation in Tally 7.2 on 4/17/12 Solution : Cost center is just like department or branch of a big organization. After using cost center in tally, you will able to record all your branch or departments.

13. What if we forget our 3D-password? By jj on 3D Password on 3/26/12 Solution : Make new.

14. Here the shopkeeper not received the commission from distributor in cash form, so how can we pass the entry for this transaction. because if we pass the above entry than cash a/c Debited, which is wrong, because cash is not receiving. By CA Neeraj Bansal on Solution of accounting problem of talk time mobil... on 3/24/12 Solution : Simple if you do not receive it in cash form, it means, you will get more talk time You can write the entry Talk Time ( Inventory)/ Purchase account Dr. Commission account Cr.

15. WHAT IS THE DIFFERENCE BETWEEN CAPITAL EXPENDITURE AND REVENUE EXPENDITURE SAI KRISHNA HYDERABAD INDIA By Anonymous on Difference Between Sundry Debtors and Bills Receiv... on 3/21/12 Solution : My written this content will be useful for you.

16. I am unable to enter purchase quantity after entering the name of item the cursor moves to other field but not to the qty field pls some body helps me By Anonymous on Solution of tally 9 problem regarding voucher entr... on 3/20/12 Solution : This happened because you have not created stock items and units of measurements in inventory info.

17. Hi sir I'm new to accounting field. And I'm working as a Accountant for service sector. Please help me to Prepare a financial statement for this financial year. And How can I know the Capital and profit position of the company. Thank you sir By Anonymous on How to Prepare a Balance Sheet of Company on 3/14/12 Solution :  To make financial statement is not difficult. I hope, you will able to make balance sheet after this content. Search other content in accounting education which will help you to make income statement. If you will use different accounting ratio, you can knowing you capital position. For example debt equity ratio or gearing ratio. For knowing profit position, you have to study profitability ratios.

18. How to manage expenses of each Engineers i,e conveyance, food, hotel bills and to make a balance sheet or expense sheet in tally ERP9. By Anonymous on Answer of Past Pending Comments on 3/13/12 Solution : Just open tally, pass the entry of each expense, you will get the report of each engineer's expenses, hotel bills. Tally will make balance sheet and total expense sheet automatically.

19. Good to know that this blog is dedicated to investments and I am also finding it very useful too. Now a days many investors are losing money in Indian stock market tips and are quite frustrated with the current volatility. So let’s discuss what according to you is the best possible action in current market situations? By way2profit on Capital Market Line Wikipedia on 3/6/12 Solution : Share market is not only one option of investment, if you are seeing more volatility in share market, invest your money in education sector or other business.

20. Where will provident fund contribution appear in final a/c of partnership firm?? By Anonymous on Simple Accounting treatment of EPF on 2/28/12 Solution : Provident fund contribution is the liability of business, so, it will be shown in the liability side of balance sheet.

21. A lot of people opt for commodity futures trading because it provides lucrative profits from minimum use of capital. Many people have benefited within a short span of time from only commodity futures trading. Are there any other benefits? By sharegyan on Option Analysis on 2/28/12 Solution : One of main benefit of commodity futures trading, it will reduce the risk of fluctuations in prices of commodity.

22. It is good but I have to also attend my tutions, so what should I ? my tutions are as following :- math :- 4:00 pm monday alternate. eng :- 5:00 pm monday altenate. science :- tuition tuesday alternate. sanskrit tution :- 6:30 - 7:30 pm.(tues. alt.) s.st tution :- any time I can adjust when I fell free., so, sir help me what should I do ,so that I can also study atleast 6 hours. and all thing can managed according to time. thanks for helping me. your faithful, Gautam. By Anonymous on Time Table of a Student on 2/10/12 Solution : My time table is not so strict. It is just guidance how should be the time table of a student. You should not take all subject tuition in one day. Suppose, you can learn 2 subject one day on the tuition and give time to revise them. Other 3 subject can be learned next day.

23. On 1st July 2000 Sameer Traders, Nasik acquired a machinery for Rs. 50000 from M/s Anil Co. Ltd. on credit. On 1st April 2001 an additional machinery was purchased for Rs. 20000. On 1st October 2002 machinery costing Rs. 25000 purchased on 1st July 2000 was sold through a broker for Rs.20000 & brokerage @ 2% of selling price paid. Depreciation is charged on 31st March every year @ 20% p.a. under Diminishing balance method. Prepare machinery A/c for three years i.e. 2000-01, 2001-02 & 2002-03 Plzzzz Help!!!! By Ashish on Depreciation Problems and Answers on 1/31/12 Solution : You can easily solve it with some examples of diminishing balance method. But remember when you have to calculate the profit loss on sale of machinery, you will deduct all the depreciation up to the date of sale from original cost of machinery. You will also deduct the brokerage from total sale price. Then net sale price and cost after depreciation will be the profit or loss on sale of machinery.

24. What is its journal entries in the separate book of account A,B,C? A paid to B on the behalf of C  rs. 5000. By saurav agrawal on Journal Entries Examples on 1/13/12 Solution : Actually in this transaction, C has to pay b but suppose C has to pay B through online but he has not bank account online. So, A pays to b. But this is the investment and same money, he has to take from C. There is nothing value of D because is just post man for transferring to In books of A B account  Dr. 5000 To cash account 5000 C's Loan Account Dr. 5000 To B's Account Cr. 5000 In books of B Cash A/C Dr. 1000 To C's A/C 1000 In books of C B's Loan A/C Dr. 1000 To A's Loan A/C 1000

25. In a sum, if they mention that the provision for bad debts is reduced from 4000 to 3000, and bad debts for the year are 11500 and the trade debtor value is 33000. what is the figure we show in the balance sheet as debtors? By Anonymous on Accounting Treatment of Provision for doubtful deb... on 1/11/12 Solution : Debtors Rs. 33000 Less bad debts Rs. 11500 Less New Provision for bad debts Rs. 3000 ----------------------------------------------------------- Debtors in balance sheet = 18500