Question

Is Reserve Fund Debit Or Credit​

Answer 1

A reserve is always a credit balance. Retained Earnings typically has a credit balance. ... The preceding is, indeed, correct IASB usage, but be aware in the U.S., under U.S. Generally Accepted Accounting Principles, "provision" refers to a debit balance, not a credit balance.

Answer 2

Answer:

In accounting, reserves are recorded by debiting the retained earnings account then crediting the same amounting to the reserve account. When the activity which caused the reserve to be created has been completed, the entry should be reversed, shifting the balance back to the retained earnings account.