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Is general reserve fund placed in asset side in a balance sheet?
Wiki User
∙ 10y ago
General reserves are part of profit of the company for usable in future so it is the liability of company and shown in liability side of balance sheet.
Wiki User
∙ 10y ago
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What are the implications of Negative General Reserve in balance sheet of a company?
It would be shown as Debit Balance of Profit & Loss Account on Asset side
Where does general reserve appears in final accounts?
Asset side
What is the largest single asset in the federal reserve banks' consolidated balance sheet?
Securities.
Is tax a asset or expense and how do I record it in the General journal or balance sheet-?
Tax is an expense, you do not record it in a balance sheet but on the general journal.
Is reserve an asset or liability?
It's an asset.
Is tax a asset or expense and how do I record it in the General journal or balance sheet?
Tax should be recorded in the general journal because it is an expense.
When do you put the asset on the balance sheet?
An asset is put on the balance sheet to show an identified estate of an enterprise at bookvalue. Examples of assets: cash, buildings and equipment, patents, participations in other companies etc. In general, assets have to be paid for. The liability part of the balance sheet shows the source of funds (equity and/or debt) used to retain the asset.
Is a Reserve account an asset or liability?
It is assets
Where does cash go on balance sheet?
Cash is an asset of business and it is shown under current asset of business at asset side of balance sheet.
Where does cash go on a balance sheet?
Cash is an asset of business and it is shown under current asset of business at asset side of balance sheet.
Is Inventory an asset on balance sheet?
Yes, it is a stock of the company so it is shown as asset in the balance sheet.
What is the journal entry to purchase asset from general reserve?
General reserves need to be converted into cash first by issuing new shares to share holders and after that cash can be used to purchase assets.
