Journal entry for reserve account
[DOC File]MD.070 - Module Technical Design - Oracle
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Mar 25, 2013 · Journal Line - The journal entry details that specify the debit or credit amount and the account it is applied to. All journal lines in a journal entry share the same period, effective date, category, source, balance type and description. ... EU03 This encumbrance journal entry is unbalanced and the Reserve for Encumbrance account is not defined.
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Their Balance sheet showed a balance of Rs 50,000 in General reserve and Rs 40,000 in Profit & Loss account. They now decide to share future profits equally .Instead of closing the General Reserve account and Profit & loss account ,it is decided to record an adjustment entry for the same.
[DOC File]P22-10 (Error Analysis and Correcting Entries) You have ...
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The reserve established by the bank has not been reflected in the books of Landers. The excess of credits over debits (net increase) to the reserve account with Landers on the books of the bank for each fiscal year were as follows: $3,000. 3,900 5,100 $12,000. Commissions on …
[DOC File]ANSWERS TO QUESTIONS
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If the allowance method is used, then the accountant may debit Accounts Receivable and credit the Allowance for Doubtful Accounts. An entry is then made to credit the customer’s account and debit Cash upon receipt of the remittance. 14. The journal entry on John Singer’s books would be:
[DOC File]ADMISSION OF A PARTNER - CBSEGuess
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Rajinder and Surinder are partners in a firm sharing profits in the ratio of 4:1. On April 15, 2007 they admit Narender as a new partner. On that date there was a balance of Rs. 20,000 in general reserve and a debit balance of Rs. 10,000 in the profit and loss account of the firm. Pass necessary journal …
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X and Y are two partners in a firm. Give the journal entry to distribute ‘General Reserve’ of Rs 20,000 at time of admission of Z when 25% of general reserve is appropriated towards Workmen Compensation Reserve.
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