there was no liability on account of workmen compensation reserves .what will be its treatment?
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1. when u don't have workmen Compensation Reserve and if any workmen Compensation claim.
revaluation a/c Dr
to workmen Compensation claim
2. when u have workmen Compensation Reserve and workmen Compensation claim is less than reserve.
workmen Compensation Reserve a/c Dr
to workmen Compensation claim a/c
to partners capital a/c
3. when u have workmen Compensation Reserve and workmen Compensation claim is more than reserve.
workmen Compensation Reserve a/c Dr
revaluation a/c Dr
to workmen Compensation claim
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