difference between provisions and reserves
- 6 Answers
- 9894 Views
- Capital IQ, I also Faced
- E-Mail Answers
Answer Posted / venkat
Provision is Income tax payable;PF Payable;Salary payable
any expendature will pay the with in one year.
For example Feb-2010-salaries will be paid to march-2010 so
Feb-2010 will provision of salaries
Reserves-is presently company position in full profit so
10% profit transfered to Reserves.
| Is This Answer Correct ? | 11 Yes | 0 No |
Post New Answer View All Answers
when & how interest on unsecured loan is calculated?
how to pass provision salary full and settlement(inclusive Bonus,Gratutity etc )please show me entry
What is an accounting transaction?
2. A budgeted profit statement of a company working at 75% capacity is provided to you 2 below, Sales 9,000 units at Rs. 32 Rs. 2,88,000 Less: Direct materials Rs. 54,000 Direct wages 72,000 Production overhead: fixed 42,000 variable 18,000 1,86,000 Gross profit 1,02,000 Less: Administration, selling and distribution costs: fixed 36,000 varying with sales volume 27,000 63,000 Net profit 39,000 You are required to: (a) Calculate the breakeven point in units and in value. (b) It has been estimated that: (i) if the selling price per unit were reduced to Rs. 28, the increased demand would utilise 90% of the company's capacity without any additional advertising expenditure, and (ii) to attract sufficient demand to utilise full capacity would require a 15% reduction in the current selling price and a Rs. 5,000 special advertising campaign. You are required to present a statement showing the effect of the two alternatives compared with the original budget and to advise management which of the three possible plans ought to be adopted, i.e., the original budget plan or (i) above or (ii) above. (c) An independent market research study shows that by spending Rs. 15,000 on a special advertising campaign, the company could operate at full capacity and maintain the selling price at Rs. 32 per unit. You are required to: (i) Advise management whether this proposal should be adopted.
what is core accounting?
audit under section and penalty under saction scurtiny under saction
how to calculate ESI,PF,PRO.TAX, INCOME TAX, VAT, T.D.S, EXCISE PLEASE SAY ANSWER IN DETAIL WITH PROPER UNDERSTANDING PLEASE SAY THROUGH WITH EXAMPLE
What do you mean by Bill of Exchnage.How to manage ? Explain
What are its characteristic features of financial accounting?
sir , i am very confussing enrty for cash receipts in t code fbcj. do the effect on wbs element after selected wbs ?
What are the 5 basic accounting principles?
Where I can Found Cost Reduction Techniques Implemented by Various cement Companies
What is difference between Cash Flow and fund flow
salary entry with briefly including pf,esi,employee advances -journal entry with against payment entry
A manufacturer want to sale his product in Rs 110/ where his manufacturing cost is 100.what will be tax for the product in different way.If he want to sale his product outside the state then what will be the taxation way. I want to know as urgent.Hope you will describe me as brakewise statement with example.
