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COMPUTATION OF APPROPRIATION: RESERVE FOR UNCOLLECTED TAXES AND AMOUNT TO BE RAISED BY TAXATION IN 2013 MUNICIPAL BUDGET Municipality: Township of East WindsorCounty: Mercer YEAR 20131: Total General

How to fill out computation of appropriation reserve

How to fill out computation of appropriation reserve

1. To fill out the computation of appropriation reserve, follow these steps:
2. Determine the profit before tax: Calculate the total revenue generated by the company and subtract all expenses, except for the taxes.
3. Calculate the tax liability: Apply the applicable tax rate to the profit before tax to determine the tax amount owed.
4. Determine the retained earnings: Subtract the tax liability from the profit before tax to obtain the retained earnings.
5. Calculate the appropriation reserve: Determine the portion of retained earnings that will be allocated to the appropriation reserve. This is usually a percentage of the retained earnings decided by the company's management.
6. Fill out the computation form: Use the information obtained in the previous steps to complete the computation of appropriation reserve form. Include the profit before tax, tax liability, retained earnings, and the amount allocated to the appropriation reserve.
7. Review and verify: Double-check the calculations and information entered in the form to ensure accuracy.
8. Submit the form: Submit the completed computation of appropriation reserve form to the relevant authority or maintain it for internal record-keeping purposes.

Who needs computation of appropriation reserve?

1. Computation of appropriation reserve is needed by various entities including:
2. - Companies and corporations: They use it to determine the allocation of retained earnings to different financial reserves, including the appropriation reserve.
3. - Tax authorities: They require the computation of appropriation reserve as part of the tax filing process to assess the accuracy of tax liability calculations.
4. - Auditors: They might need the computation of appropriation reserve to ensure compliance with accounting standards and regulations.
5. - Shareholders and investors: They may review the computation of appropriation reserve to understand how the company is allocating its profits and retaining earnings.
6. - Financial analysts and consultants: They use the computation of appropriation reserve to assess the financial health and performance of a company and provide recommendations.

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What is computation of appropriation reserve?

Computation of appropriation reserve is the calculation of funds set aside from profit for future use or specific purposes.

Who is required to file computation of appropriation reserve?

All companies that are required to prepare financial statements as per accounting standards are required to file computation of appropriation reserve.

How to fill out computation of appropriation reserve?

To fill out computation of appropriation reserve, one needs to calculate the amount set aside for appropriation from the company's profit as per the accounting standards and regulations.

What is the purpose of computation of appropriation reserve?

The purpose of computation of appropriation reserve is to allocate a portion of profits for specific purposes such as dividends, reinvestment, or reserves for future expenses.

What information must be reported on computation of appropriation reserve?

The computation of appropriation reserve must include details of the amount set aside, the purpose of appropriation, and compliance with accounting standards.