Answer / bujji babu

reserve-
is an amount put separate as reserve from general profits
every year for future problems.
fund-
it is also amount, put for specific purpose only.examples
for bad debts provision, depreciation fund, sinking fund
like that etc.

Answer / vikas gupta

Reserve: It is the sum of amount that is created out of
profits gained from the current year for the UNKNOWN NATURE
of losses e.g. Reserve & Surplus.

Fund: It is the sum of amount that is created for the KNOWN
NATURE of losses e.g. provision for bad and doubtful debts,
depreciation fund etc.

one customer visit the showroom of phones and purchased the phone of Rs 750 and gave the 1000 rupees note the showroom executive didn't have the change so he take the change from next to his showroom's shop then he deliver the phone to customer with the change of rs 250.and customer went with both after sometime the shop owner of next to showroom who gave the change of Rs 1000 with angry and told the showroom executive that the note you give it to me is fake! so showroom executive gave him Rs1000 to him.so my(question) is how much the showroom executive faced the loss on this transaction.

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Rent outstanding:2500

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Is it mandatory having Knowledge of auditing to an accountant ?

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Can somebody please tell that what will be the accounting entry from auditor's point of view, If a company receive a bill of Rs. 12000 for AMC of Software for the period from 01.08.2014 to 01.08.2015. bill dated 01.05.2015, Can somebody please tell that what will be the accounting entry from auditor's point of view, If a company receive a bill of Rs. 12000 for AMC of Software for the period from 01.08.2014 to 01.08.2015. bill dated 01.05.2015, what will be entry pass in 01.05.2015 in tally

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Revenue Expenditure

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why the accounts as personal real and nominal

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what is the Cash purchase limit.

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