06 June 2009
Fund means any amount kept aside for specific purpose. Provision means any expense / liability is provided on estimated basis. Reserve means surplus earned by entity.
A/cing Entry for fund:
Reserve A/c... Dr To Asset Procure Fund A/c
(Reserve is debited since the fund will be created out of surplus available)
06 June 2009
Fund means any amount kept aside for specific purpose. Provision means any expense / liability is provided on estimated basis. Reserve means surplus earned by entity
CAclubindia
