Following is the situation.

There is a bank account with balance Rs.60,000. And this amount is deposited towards expected Medical expenses for the year.

We need to create a reserve for this Medical expenses and reduce the reserve as and when the expense is met. All the expenses will be made through cheque so the bank also have to refelect the current outstanding.

Only expended amount has to reflected in P&L.

What are the ledgers that needs to be created?
What is the accounting entry for creating a provisions?
What is the journal entry for actual expenses?

Can anyone explain with examples?

Thanks in advance.

Please elaborate E-1 transactions/sales.

a)-what is the meaning of following payscale/band? (sr.no 1)
what amt of salary will person get?

b)-pls also tell me what is payband and paygrade?
thanks


1) Pay scale 5200-20200 + 2800
plus other allowances
as applicable

what is basis taking an expense as prior period items.... either
(a) exp after 31 march
or any other ???

Hi,

A Company has suffered losses for the first time and has recognised deferred tax asset. Does it still have to establish virtual certanity to prove that it will make profits in future?

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I have a question. If one company purchases any agriculture land and capitalized it in its books and after sometimes of purchase like 1 or 2 years company wants to commense any activity on land and on it pays some CLU charges to the government as for commensement of activity. Should company capitalize the same or expensed the same ? Pls clarify !

It looks like a dumb question by a dumb person but reality is that one director, let's say Director A (50% share holder) of a pvt. ltd. giving un-secured loans to his company which is totally run by another , director B (also 50% share holder - director). The company is under dispute so director A want to get back his un-secured loans. Please kindly advise how and what should Director A do?

i finish my B.com , mba (finance) , worked in accounts for 5 years ..like to know can i join icwai ..bz im confused .some reasons my age im 28 , pass percentage of icwai...

so pls friends help me