sahil goel


{ City } delhi
< Country > india
* Profession * c.a.
User No # 88046
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Total Answers Posted # 2

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Questions / { sahil goel }
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Answers / { sahil goel }

Question { 8238 }

what do mean by reserve and provision both are same or not?


Answer

Reserve is created for unknown liability which is not recognised & it is a part of shareholders' capital .
Provision is created for known liability which may happen in future.

Is This Answer Correct ?    2 Yes 0 No

Question { CSC, 8611 }

Mr.A repaired a printer of a company and charge a bill of
Rs.1200? The company paid Mr.A cheque of Rs.1080 and deduct
Rs.120 in TDS after couple of day Mr.A received TDS
certificate from the company. pass all the entries in the
books of accounts.


Answer

Repairs A/c Dr. 1200
To A 1200

A Dr. 1200
To Bank A/c 1080
To TDS 120

Is This Answer Correct ?    20 Yes 6 No