Hi All,
I have a doubt in Realization account. Is Workmen Compensation Reserve transferred to credit of Realization account? I have come across a sum where the same has not been transfered,whereas Machinery Replacement Reserve has been transfereed.
Is it because Workmen Compensation Reserve is not an outsiders liability? And what about Machinery Replacement Reserve?
Please help! I am learning by self study and need clarity on this matter.
CAclubindia
