The journal entry to record the utilisation of the Investment Risk Reserve (IRR) to maintain the base

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The journal entry to record the utilisation of the Investment Risk Reserve (IRR) to maintain the base amount of investment funds attributable to the investment account holders would be:

a. Debit investment accounts (quasi-equity), Credit IRR

(quasi-equity)

b. Debit IRR (quasi-equity), Credit investment accounts

(quasi-equity)

c. Debit investment accounts (investor’s equity), Credit cash

d. Debit cash, Credit investment accounts (investor’s equity)

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Related Book For answer-question

Financial Reporting For Islamic Financial Institutions Accounting Standards Interpretation And Application

ISBN: 9781032464022

1st Edition

Authors: Abdul Rauf Mahar, Ayesha Bhatti, Muhammad Junaid Ashraf, Asfand Zubair Malik

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Question Posted: Mar 11, 2024 03:31 AM

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The journal entry to record the utilisation of the Investment Risk Reserve (IRR) to maintain the base

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Financial Reporting For Islamic Financial Institutions Accounting Standards Interpretation And Application

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