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Comparison of Saw Ginning and High-Speed Roller Ginning with Different Lint Cleaners of Mid-South Grown Cotton. Four cotton cultivars were ginned with a saw gin equipment line and also with a high-speed roller gin line. The saw gin line using an air-jet and controlled-batt saw-type lint clearer was compared to the high-speed roller-gin line ...
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Vishal Cottex & Jalaram Ginning Factory Vishal Cottex made a humble beginning as a cotton merchant in 1980 in one of the oldest cotton cluster town of India namely Manavadar. Today we are diversified within the Cotton Textile Value Chain in form of our ginning activity, exports of cotton & its by-products, exports of Yarn and we also have our ...
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KEY NOTE. 1. "Buildings" include roads, bridges, culverts, wells and tubewells. 2. A building shall be deemed to be a building used mainly for residential purposes, if the built-up floor area thereof used for residential purposes is not less than sixty-six and two-third per cent of its total built-up floor area and shall include any such …
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depreciation on asset the same should be taken into consideration. Provisions of Companies Act, 2013 and Income Tax Act, 1961 are relevant in this regard. 7.Additions to assets. Any capital expenditure incurred on extension or addition to old machinery will be subject to depreciation in the year in which the addition is made to the asset.
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Let us take a practical example. Suppose a ginning factory has a building worth Rs. 22 million, plant and machinery valuing Rs. 2 million and the staff is paid Rs. 50,000/- per month. The factory sought finance of Rs. 5,000,000/- from a bank on the basis of musharakah for a term of one year.
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Implementation of Industry 4.0 in Ginning Mills. In order to operate ginning mills more efficiently, In- dustry 4.0 as a case needs to be evaluated for the ginning mills. Especially the need to implement Industry 4.0 in export-oriented units will help to yield a better quality and longer as well as undamaged fibres in a production caring all ...
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CIT 292 ITR 11 [relied upon in Manjunath Cotton & Ginning Factory (supra)] – wherein it is observed that concealment of income and furnishing of inaccurate particulars of income in Section 271(1)(c) of the Act, carry different meanings/ connotations. Therefore, the satisfaction of the Assessing Officer with regard to only one of the two ...
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This document is a project proposal for a textile and garment factory in Dukamtown, Oromia Region, Ethiopia. The proposed factory will produce various garments including t-shirts, jackets, dresses, and sports uniforms. It will employ 600 workers, including 410 permanent employees and 190 temporary employees. The total initial investment cost is …
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Memphis Office (Headquarters) National Cotton Council of America 7193 Goodlett Farms Parkway Cordova, TN 38016 (901) 274-9030 (901) 725-0510 Fax. Washington Office
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Cotton ginning plays a vital role in the textile industry. It is the initial stage in converting raw cotton into a form that can be spun and woven into textiles. The ginning process prepares the cotton for further processing and ensures that the fibers are clean, free from impurities, and ready for spinning.
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Learn how to depreciate property using the Section 179 deduction, the special depreciation allowance, and the modified accelerated cost recovery system (MACRS). Find out what …
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The Unloading System is the means by which the incoming seed cotton is introduced into the gin plant. Whether the seed cotton is transported to the gin in sacks, trailers, trucks, or in modules (either conventional loaf-type or the newer round-type), Lummus offers a variety of equipment that can be configured to accommodate any or all of these means of arrival …
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Learn how to depreciate farm machinery and equipment over 5 years, use the 200 percent declining balance method, or elect ADS. Find out the definition of farming business and …
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How Depreciation Works in Accounting. Conceptually, the depreciation expense in accounting refers to the gradual reduction in the recorded value of a fixed asset on the balance sheet from "wear and tear" with time.. The recognition of depreciation is mandatory under the accrual accounting reporting standards established by U.S. GAAP …
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Understanding fixed asset useful life is crucial for effective depreciation and asset management within an organization. The useful life of a fixed asset represents the period over which the asset is expected to contribute value to the business operations. ... Cotton Ginning Assets: 12: 7: 12: 01.21: Cattle, Breeding or Dairy: 7: 5: 7: 01.221 ...
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- The particulars of a cotton ginning factory shall be entered in the register maintained under sub-section (2) of section 3 and shall include the name of the factory, its situation and the name of the owner or lessee. ... [12 per cent.] on the invested capital minus the accumulated depreciation fund. [(m) cost of hessien and iron strips; (n ...
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Get free access to the complete judgment in Commissioner of Income-tax v. Chaudhary Cotton Ginning & Pressing Factory on CaseMine.
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IAS 16, Property, plant and equipment, requires entities to review the residual value, useful life, and depreciation method applied to an asset, at a minimum at each balance sheet …
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The journal entry for depreciation refers to a debit entry to the depreciation expense account in the income statement and a credit journal entry to the accumulated depreciation account in the balance sheet. In each accounting period, a predetermined portion of the capitalized cost of existing fixed assets, such as equipment, building, …
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will also present potential ginning research that may improve fiber length uniformity. DISCUSSION The cotton ginning process can be divided into the following sub processes: seed cotton unloading; seed cotton drying; seed cotton clean-ing and extracting; ginning (saw- or roller-type gin stands); lint cleaning (saw- or roller-type lint
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Learn how to recover the cost of business or income-producing property through depreciation deductions, such as section 179, special depreciation allowance, and …
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This graph compares asset value depreciation given straight line, sum of years' digits, and double declining balance depreciation methods. Original cost of the asset is $10,000, salvage value is $1400, and useful life is 10 years.
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This paper reviews recent research on energy use and conservation in cotton gins and of-fers suggestions on ways for gin managers to reduce energy use based on this …
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The journal entry for depreciation can be a simple entry designed to accommodate all types of fixed assets, or it may be subdivided into separate entries for each type of fixed asset. The basic journal entry for depreciation is to debit the Depreciation Expense account (which appears in the income statement) and credit the …
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A good deal of moisture can be removed from seed cotton during ginning by applying warm air from dryers. However, cotton that is excessively wet, particularly if the seeds are wet and have become soft, can be very difficult to gin, thus drastically slowing ginning and increasing the per-bale ginning cost.
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The cost of ginning cotton is an important concern for producers and ginners. Data from this survey provides information about key variable costs as a component of the overall cost …
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Determine the depreciation rate per unit: Depreciation Rate per Unit = $100,000−$10,000500,000 units = $0.18 per unit; Calculate the annual depreciation expense: Depreciation Expense = $0.18 per unit × 50,000 units = $9,000; So if the machinery produced 50,000 units in a given year, you would record a depreciation …
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ginning (on factory scale) pressing . by-product linters . flow diagram of cotton ginning & pressing . cotton saw ginning equipment ... depreciation chart for 5 years. 17. profit analysis for 5 years. 18. projected balance sheet for (5 years) how to make project report?
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The meaning of the word 'building' as per the Oxford English Dictionary is a 'structure with a roof and walls, such as a house or factory'. Land and Building Depreciation Rate. The depreciation of a building refers to its fall in selling price. One thing that remains useful for centuries is land.
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The cotton fibers are removed from the seeds after picking cotton.The process of removal of cotton fiber from the seed and also, the removal of impurities is called ginning of cotton.Due to the mechanical pick of cotton, there is much trash along with cotton nowadays. So the processes involved in ginning are drying, cleaning, and …
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In 'CIT and Another vs. Manjunath Cotton & Ginning Factory', [2013] 359 ITR 565 (Karn.), it has been held by the Hon'ble High Court that notice under section 274 read with section 271(1)(c) of the Act should specifically state the grounds mentioned in section 271(1)(c) of the Act, i.e., whether it is for concealment of income or for ...
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We started our ginning factory named, "BALU GINNING INDUSTRIES" by keeping in mind that India is the second largest producer of Cotton internationally. There is a huge demand for cotton globally, in order to fullfill this demand the industry was started in Coimbatore District, nearby Tiruppur District in the state of Tamilnadu, India which has plenty of …
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Cotton Ginning Harvested cotton is called seed cotton because the fibers are still attached to the seed. The principal function of a cotton gin is to convert farmers' harvests into salable commodities—fiber and seed—by …
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Learn how to calculate depreciation using four methods: straight-line, declining balance, sum-of-the-years' digits, and units of production. See examples, …
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Ginning cotton is a crucial step in the production process, and without it, the cotton fibers would be too tangled and unusable for the creation of clothes and textiles. The process involves separating the cotton fibers from the seeds, leaves, and other debris. This is important because the fibers need to be clean and separated to be used in ...
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(Depreciation charged directly to the fixed asset) Accounting rules applied in the above journal entry are; Depreciation A/c – Debit the increase in expense. Asset A/c – Credit the decrease in assets. Golden rules of accounting applied in the above journal entry are;. Depreciation A/c – Nominal Account > Debit all expenses & losses; Asset A/c – Real …
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