I WANT TO KNOW WHAT IS STATUTORY RESERVES & PLEASE GIVE EXAMPES OF THAT.
ALSO TELL WHAT HAPPENS TO THESE IN B/S.
5 Replies
Lalit Kumar
(Vice President )
(2213 Points)
Replied 13 March 2011
statutory reserves are those liabilities an insurance company is legally required to maintain on its balance sheet with respect to the unmatured obligations (i.e., expected future claims) of the company.
CA abhinandan agarwal
(CA CS Bcom(H))
(174 Points)
Replied 14 March 2011
IN CASE OF AMALGAMATION OF TWO COMPANY, THE STATUTORY RESERVE OF AMALGAMATING CO.MUST TO CARRIED OUT TO AMALGAMATED CO.STATUTURY RESERVE IS LIKE A FIXED LIABILITY THATS Y AMALGAMATED CO.MUST CARRIED IT TILL DATE...
AKSHIT MALHOTRA
(C.A Final Student)
(1337 Points)
Replied 14 March 2011
THNX A LOT LKR & ABHINANDAN.
Nilesh H Mehta
(Tax Consultant)
(39 Points)
Replied 14 March 2011
u have to enter bank to bank entery in contra voucher only, not in receipt or payment voucher.
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