how workmen compensation fund is treated if there is a liability in adj towards it
ADJUSTMENTS OF WC RESERVE WHEN CLAIM OR LIABILITY IS GIVEN----
,,, if wc is given in balance sheet nd a claim is also given in additional information(which is less than wc reserve) den d difference is credited to partners capital a/c and d amt. of claim is shown in d liabilities side of balance sheet...
but if wc reserve is less than claim or liability given in additional information den d difference is debited to revaluation a/c and d amt of claim is shown in d liabilities side of balance sheet........:))