Answer Posted / naresh.l

Provision is charged to p/l a/c where as reserve is an
appropriation of profit.
Provision is must charged to p/l a/c before calculating
the net profit or loss, but reserve can made only when there
is profit.
Provision is created for specific object, reserve is
created for probable losses.
Provision reduces the net profit and are not invested
in outside securities. Reserves reduces divisible profit can
be invested in outside securities.

What is TDS entry for a Firm? as previous years TDS is shown as opening balance in the books of the firm in current year and i don,t want in C.Y as its claimed in the Computation of Previous Years???? So what is the A/C ing entry

2109

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We are running an educational institution in Karnataka,India. Is there any ceiling stating that if gross salary is upto this then only incentive or bonus can be paid?

2110

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Apportion Rs 125000/- Nett loss among the partners A,B,C as per their sharing ratios 32%,16% and the balance to C. Pass journal entry

2060

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WHAT IS THE PROFILE OF FINANCE EXECUTIVE IN TEXTILE INDUSTRY

2092

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what is circuit filter?

1920

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Give me total Details of payroll calculation, payslip with examples.

2692

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Expand DEHM

1957

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I have a existing Oracle applicttions and need to bring one of the new business on it. The new business will use GL, AP and FA. We will use existing COA. This business will have 3 sets of books (1- tax book, from April to March; 2- Primary book, from July to June; 3- Reporting book, from July to June); All books will have same currency; HOW DO I TRANSFER DATA FROM PRIMARY BOOK INTO TAX AND REPORTING BOOKS EVERY MONTH OR ON WEEKLY? IS THERE ANY STANDARD ORACLE PROCESS WHICH CAN BE SCHEDULED? THE REPORTING BOOK WILL HAVE DIFFERENT DEPRECIATION METHOD SO HOW DO I NOT TRANSFER DEPRECIATION FROM PRIMARY TO REPORTING BOOK AND DO SEPERATE DEPRECIATION IN REPORTING BOOK FOR THE SAME ASSET THAT IS ALSO IN PRIMARY AND TAX BOOK?. HOW DO I APPROACH ON SETTING THESE NEW SETS OF BOOKS? Thanks, KK

2120

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barwaha

1104

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AT THE TIME OF REDEMPTION OF DEBENTURES. WHEN THERE IS PROFIT/LOSS ON SALE OF DEBENTURES WE TRANSFER THAT AMOUNT IN PROFIT AND LOSS A/C BUT WHEN WE CANCEL OUR DEBENTURES AFTER BUYING IT FROM OPEN MARKET THE DIFFERENCE BETWEEN MARKET VALUE AND COST OF DEBENTURES TRANSFER TO "CAPITAL RESERVE ACCOUNT .. WHY SO ANY PRACTICAL ANSWER ??

2167

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please send me last 3 years question & solution

2119

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Up to what time we can show TDS Receivables under Advance Income Tax A/c?

2071

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Whats the Balnace of Closing stock so if we issued the materil then the Closing stick will be dr and in case we pirchsed the materil the closing stock will be cr so tell me that i m correct or not

7095

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Hi, Please post in here the Aptitude Test Questions given in companies like Thomson, Reuters, GMS, JP Morgan, Northern Trust Bank etc.

6660

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What is the due date for filing monthly & annual sales tax returns in karanataka

3801

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