how WCF and WCR treated in dissolution of a firm. r they both divided in capital a/c between old partners?
Hi Suhasi
WCF i.e. Workmen Compensation Fund and WCR i.e. Workmen Compensation Reserve are one and the same thing.
Treatment of WCF/WCR is already answered by one of our experts. Follow the link given below:
https://www.meritnation.com/ask-answer/question/experts-please-tell-me-the-treatment-of-workmen-compensation/accountancy/1946828
In case of more detailed explanation, browse through the study material by clicking on the link:
https://www.meritnation.com/cbse/class12-commerce/studymaterial/accountancy/partnership-accounts/dissolution-of-partnership-firm/435_2432_7729#slide4_treatment-of-jlp-iff-goodwill-workmen-compensation-fund
Scroll down to the heading 'Treatment of Workmen Compensation Reserve and Contingency Reserves'
WCF i.e. Workmen Compensation Fund and WCR i.e. Workmen Compensation Reserve are one and the same thing.
Treatment of WCF/WCR is already answered by one of our experts. Follow the link given below:
https://www.meritnation.com/ask-answer/question/experts-please-tell-me-the-treatment-of-workmen-compensation/accountancy/1946828
In case of more detailed explanation, browse through the study material by clicking on the link:
https://www.meritnation.com/cbse/class12-commerce/studymaterial/accountancy/partnership-accounts/dissolution-of-partnership-firm/435_2432_7729#slide4_treatment-of-jlp-iff-goodwill-workmen-compensation-fund
Scroll down to the heading 'Treatment of Workmen Compensation Reserve and Contingency Reserves'