journal entry for reserves and surplus

If the actual loss is lower than the estimated expenses, the company already record expense more than it should be. It is just the movement of equity from one account to another. Reserves and surplusAt the end of an accounting period the company may decide to transfer part of the profits to a reserve and retain the balance in the profit and loss account. It is decided by the management of the company to keep aside 8 % of the profits earned during the financial year for meeting future liabilities, i.e., General Reserve and the corporation has issued sharesIssued SharesShares Issued refers to the number of shares distributed by a company to its shareholders, who range from the general public and insiders to institutional investors. Share buyback refers to the repurchase of the companys own outstanding shares from the open market using the accumulated funds of the company to decrease the outstanding shares in the companys balance sheet. They can be categorized as follows: 1. The term "reserves" refers to any profits retained in the business that do not have any of the attributes of provisions. Sometimes reserves and surplus are maintained in cash to manage the reduction in revenues and slow-paying customers. However, we have to check if the reserve is too high. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. #4 - Translation Reserve Reserves The corporations earnings from its normal course of operation during the financial year 201718 were $ 500,000. In the above journal entry, the bank account is debited as per accounting rule of debit what comes in and credit what goes out, here money is coming into the bank account of the company and that is the reason why bank account of the company is debited. In financial accounting, reserve always has a credit balance and can refer to a part of shareholders' equity, a liability for estimated claims, or contra-asset for uncollectible accounts. On 05 Apr 202X, company has found the actual damaged goods $2,000 which need to write off. It has been noticed that top management had diverted the funds for their use. Basic Reinsurance Accounting - Selected Topics October 2012 . This article has been a guide to Reserve Accounting and its meaning. Is it compulsory to record inventory reserve? Working Note: Amount to be transferred to Capital Redemption Reserve Account . Surplus on revaluation of fixed assets or fixed liabilities To learn more about True, visit his personal website, view his author profile on Amazon, or check out his speaker profile on the CFA Institute website. December 5, 2019 at 8: . Registration with the SEC does not imply a certain level of skill or training. Thus, provisions are amounts set aside out of profits and other surpluses for: If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. 31.3.2021 31.3.2020 I EQUITY AND LIABILITIES 1. Profits prior to incorporation Glass has a high rate of damage, so company needs to provide a proper reserve. Reserves are the main source of the amount required for dividend distribution available. Capital ReserveCapital ReserveCapital reserve is a reserve that is formed from the company's profits earned from its non-operating activities duringa period of time and is retained for the purpose of financing the company's long-term projectsor writing off its capital expenses in the future.read more refers to a part of the profit kept by an entity for a specific purpose, like financing long-term projects or writing off any capital expenses. Accounting is the process of processing and recording financial information on behalf of a business, and it serves as the foundation for all subsequent financial statements. Cash will match the profit on the sale and the removal of asset l. But the reserve transferred to Retained Earnings will amount extra on the equity and liability. It is a contra asset account and offsets accounts receivable. The contingency reserve or undistributed balance of the profit and loss account (after considering the debit balance, if any) also falls within this category. Most companies use the cost of goods sold in the account to record this expense, but they may separate subaccounts for easy control. So we need to keep the balance on balance sheet for future net off. Finance Strategists is a leading financial literacy non-profit organization priding itself on providing accurate and reliable financial information to millions of readers each year. It is used to expand the business operations or to handle contingencies in the long run. The following briefly describes a few examples of the reserves you might come across and will give you a sense of their purpose on the balance sheet. (10 Marks) (May 2018) Answer: Journal Entries. Provisions and reserves both reduce the profits, but in a different sense. It prevents the company from overstating the assets and understating liability. Extract from Profit and Loss Account (Debit Side) Inventory write-off expenses should be recorded within the time that the company holds inventory. By clicking Accept All Cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Please refer to our Customer Relationship Statement and Form ADV Wrap program disclosure available at the SEC's investment adviser public information website: CARBON COLLECTIVE INVESTING, LCC - Investment Adviser Firm (sec.gov) . The overall amount of reserves and surplus will be equal to the total of the general reserve, stock premium account, capital redemption reserve, and dividend reserve. A general reserveGeneral ReserveGeneral reserve is the amount kept aside from the profit earned by the company during its normal course of the operation to meet future needs like contingencies, strengthening the companys financial position, increasing working capital, paying dividends, offsetting specific future losses.read more is also known as a revenue reserveRevenue ReserveRevenue Reserve, also known as Retained Earnings, is a reserve type created out of profits that a business generates from its operating activities over a given period. Suppose the company incurs the losses, which are adjusted/set off with the companys reserves. Since this amount on the balance sheet's liability side represents . We and our partners use cookies to Store and/or access information on a device. 20,000. Explanation of Reserve Accounting Journal Entry A shareholder would pay $40 to the company, but as the par value is $10, the rest would be housed in the securities premium account. 2. It is the balancing figure between inventory reserve and inventory. Transcript. A business may seek to provide for contingencies as per the concept of conservatism. 7a naveen place, Najafgarh, Delhi, 110072+91-8860284198[emailprotected], 7a naveen place, Najafgarh, Delhi, 110072, Different types of Reserves and Surplus in Balance Sheet. The partners agreed to value Machinery at Rs.1,05,000, Patents at Rs.65,000 and Buildings at Rs.1,20,000. The British Bank of South America Ltd. (1882), it was held that profit on the sale of fixed assets can be used to declare dividends if the following conditions are satisfied: The same ruling was also made in Foster vs. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'accountinguide_com-leader-1','ezslot_13',144,'0','0'])};__ez_fad_position('div-gpt-ad-accountinguide_com-leader-1-0');The journal entry is debiting inventory reserve and credit inventory, the difference between inventory loss and reserve needs to debit to expense (inventory write down). On 31 Mar 202X, the inventory balance is $ 500,000, and management estimate inventory write-down of $ 5,000 which may cause by various reasons such as obsolete and damage. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. 1,500 10% Redeemable preference shares of 100 each fully paid - 1,50,000. An insurance company's policyholders' surplusits assets minus its liabilitiesserves as the company's financial cushion against catastrophic losses and as a way to fund expansion. Past performance does not guarantee future results, and the likelihood of investment outcomes are hypothetical in nature. It only happens when inventory is higher than inventory write down. Dividend distribution, meeting future liabilities, recovering losses, handling working capital needs, meeting finances required for business expansion, and so on are all examples of how reserves and excess are used. These earnings are recorded under shareholder's equity. Some inventory has a high rate of obsolete. The firm can sustain its working capital needs with the support of reserves since reserves can be used to boost working capital when the companys working capital is insufficient. The profit keeps accumulated in the equity section. Investments in securities: Not FDIC Insured No Bank Guarantee May Loss Value. Pass necessary journal entries. Partners decide to distribute the Reserves and pay C's share in cash. Generally, the company creates these reserves to settle any future contingencies. If the actual loss is higher than the estimation, it means the company underestimates the inventory reserve. Platform shall make the following journal entry as at 31 December 2015: Derivative position (asset) $150,000. The profit will increase the retained earning balance while the loss in the period will reduce it. Vinayak Ltd. Balance Sheet as on 31st March, 2021 Particulars Note no. Depreciation for 3rd year would be = 85,000/ 3 = 28,333. Specific reserves: These reserves are created out of revenue profits for a specific purpose. Continue with Recommended Cookies. MAYANK_Karnawat (Senior Officer) (21 Points) The shares are said to be issued at a premium when the issue price of the share is greater than its face value or par value. It assists in preserving dividend distribution rate similarity by offering the amount necessary to keep the dividend rate uniformity when there is a deficit of funds accessible for distribution. When the company receives the amount over the nominal value of the share, then the excess is termed as securities premiumSecurities PremiumShare premium is the difference between the issue price and the par value of the stock and is also known as securities premium. The terms "reserves" and "provisions" have been used loosely in the past. Reserve capital is the business's emergency fund and is not required to be on the balance sheet. ADVERTISEMENTS: (b) 1,000, 8% Debentures of Rs. However, each has a different effect. No, you cant, inventory reserve is the estimated loss of inventory that may be happening in the future due to various reasons. Reserves and surplus are the total amount of maintained earnings reported as a component of Shareholders Equity and set aside by the firm for specified objectives such as purchasing fixed assets, paying legal settlements, repaying debts, or paying dividends, and some others. Profit Must is being built by a passionate team with in-depth understanding of the IPO sector and stock market. Journal Entry For Reissue of 200 Shares at a Discount of Rs. The general reserves, which make up the majority of reserves and surplus, are not set aside for any particular reason. The money maintained in a separate account for securing that a similar amount of dividend is announced annually is known as the dividend reserve. It helps management to allocate the inventory loss over its life and prevent the impact on any specific accounting period. Retained earnings are the equity component of the balance sheet. Security Premium Reserve. Carrying value of asset at the end of year 2 would be as follows: Depreciation expense during next year (year 3) would be based on the new carrying value i.e. Reserve and surplus created by the company are the reserves that the company can utilize for the purpose according to nature or the type of such reserve and surplus. It appears as the owner's or shareholders' equity on the corporate balance sheet's liability side. Capital Reserves Reserves and Provisions: Explanation A loss making company can never make reserves, given below is the journal entry for reserve - Profit and loss account Dr To Reserve account If the management has enough evidence to prove that inventories are not required to be written off it is fine to record at cost. then what will match the revaluation surplus is the cash we recieved and the gain. It is used to expand the business operations or to handle contingencies in the long run. Inventory write-down will impact the income statement as the expense that reduces company profit. It can be one of the methods that company uses, but it is not inventory counting. CFA Institute Does Not Endorse, Promote, Or Warrant The Accuracy Or Quality Of WallStreetMojo. AAS . Writing off the discount allowed on the issue of shares or debentures of the company or the cost of issuing shares or debentures Reserves and surplus are all the cumulative amounts of retained earnings recorded as a part of the Shareholders Equity. Examples of provisions include provisions for bad and doubtful debts, provisions for repairs and renewals, provisions for discounts, and provisions for taxation. General reserves are also known as free reserves because they represent profits that are freely available for distribution. 1 Accounting for depreciation of revalued asset with surplus Journal entry to record the depreciation charge on revalued asset is following: The amount of reserve transfer or excess depreciation is calculated as: Excess depreciation = Depreciation on revalued amount - Depreciation on original cost Extracts from a proforma profit and loss account and balance sheet are given below for better clarity. You are free to use this image on your website, templates, etc., Please provide us with an attribution link. A surplus is a difference between the total par value of a company's issued shares of stock, and its shareholders' equity and proprietorship reserves. Premium on issue of shares or debentures When actual inventory writes down incur, the company needs to make a journal entry by debiting inventory reserve and credit inventory. Profit and Loss . After this entry, Inventory balance equal to 480,000 (500,000 2,000) less 3,000 (5,000 2,000) which is 450,000.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'accountinguide_com-large-leaderboard-2','ezslot_11',143,'0','0'])};__ez_fad_position('div-gpt-ad-accountinguide_com-large-leaderboard-2-0'); Inventory reserve allows the management to record expenses before the actual loss on the inventory. The list provided above is not exhaustive. The following are the advantages of reserve accounting , The following are the disadvantages of reserve accounting . They are recorded as owner's equity on the Company's balance sheet.read more for which they have received a premium amounting to $ 25,000. These include Sales-generated revenue, Retained Profits, & Controlling/Reduction of working capital. This is due to the lack of universal definitions. The amount kept separately by an entity from its profits for future purposes is known as revenue reserves. Proprietorship reserves are held in an account that is set up to alert investors that part of the shareholders' equity won't be paid out as cashdividends. A reserve can appear in any part of shareholders' equity except for contributed or basic share capital. This is the reason that one formula does not fit all inventories and business types. Pub. The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. While if a company makes losses, then no reserves . It would take a lot of time and the spreadsheet would be large! Capital surplus is also known as "contributed surplus" or "additional paid-in capital.". The basic purpose of accounting is derivation of information and the more the information we need, the more the accounting heads we need to maintain. o The identity of the reserves shall be preserved and shall appear in the financial statements of the transferee in the same form in which they appeared in the financial statements of the transferor. Revenue reserves are the funds set aside by a company from its earnings for the objective of future use. As such, it represents an expense. Share Capital 30,50,000 20,00,000 b. Shareholders' equity is the difference between total assets and total liabilities. . It is recorded through the following journal entry: 1 .For recording the revaluation surplus on the building. It is split into two segments: Reserve Funds and Reserves, which are financing that has been Formula for calculating Networth equity share capital+preference share capital + reserve and surplus + profits - fictitious assets like preliminary expense - losses SUBHASHIS DEY (ACCOUNTANT) (44 Points) Replied 15 July 2013 net worth = share capital + reserve. The Consolidated Schedule of Accumulated Surplus provides a detailed breakdown of what has given rise to the surplus (or deficit), or of the intended uses of the surplus amount, and of shortfalls, in the case of a deficit. As per the accounting standard, we do not record negative revaluation. This reserve is created from any capital profit of an entity that is earned from profit other than the companys core operations. He is the managing director and co-founder of Kennon-Green & Co., an asset management firm. This is done either to increase the value of the existing shares or to prevent various shareholders from controlling the company. In accounting, we need to record expenses based on accrual basic. The management needs to provide a high rate of provision for such kind of inventory as they have a high rate of loss due to damage or obsolete.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'accountinguide_com-leader-2','ezslot_16',153,'0','0'])};__ez_fad_position('div-gpt-ad-accountinguide_com-leader-2-0'); On the other hand, the inventory such as cloth, may not expire or be damaged but it may be out of date. This premium is then credited to the share premium account of the company.read more, capital redemption reserve, and dividend reserve. Retained earnings and surplus refer to an increase in the shareholders' equity of a company. Provisions are created by debiting the profit and loss account. A provision is created when you are expecting an expense in the future. The par value of shares is essentially an arbitrary number, as shares . The stock par value is $10,000, but the proceeds add up to $100,000. However, we can perform a physical inspection to evaluate the inventory condition to provide a proper estimate. Or, perhaps they're basing their choice on an examination of the current balances. Ceded Reserves/Surplus 0% 0% 0% 0% 30% 30% No Cat Event Cat Event Page 5 of 13 . The company earmarks them for specific purposes like buying fixed assets, payment for legal settlements, debts repayments, payment of dividends etc. In most cases, these reserves are established by the corporation to cover any future emergencies. It appears as the owner's or shareholders' equity on the corporate balance sheet's liability side.read more. Inventory obsolete is the subaccount of the cost of goods sold which will deduct the company profit in the income statement. Reserves in Accounting At the end of a financial year when a company earns a profit certain portion of it is retained in the business to meet future contingencies, growth prospects, etc. Specific. Reserves and Surplus are which form of Internal Financing. The management team has agreed to set aside 7% of earnings produced over the financial year for future obligations for the General Reserve. This is all from our side regardingreserves and surplus are which form of financing. No, it isn't. However, they have to access the inventory valuation before making a conclusion, Auditor will access the management valuation and its reasonableness. While passing the above journal entry, the difference between the amount of consideration payable by the transferee company to the transferor company and the amount of the share capital of the transferor company is adjusted in the general reserve or other reserves. The shares are said to be issued at a premium when the issue price of the share is greater than its face value or par value. Reservation. The reserves are shown on the liabilities side of the balance sheet under the proper heading or sub-heading. February 24, 2018 at 7:53 pm #438772. tarikulkazi. "What Is Reserve Capital?". If the market value keeps dropping, the reserve at some point will drop to zero or even negative. Required fields are marked *. ", The Law Dictionary. Extract from Company's Balance Sheet. Perhaps past experience has led them to decide this. The company earmarks them for specific purposes like buying fixed assets, payment for legal settlements, debts repayments, payment of dividends etc. Reserves accounting can be further categorized into several components, depending upon the organizations requirements. Example of Reserve Accounting with Journal Entries, Difference Between Reserve and Provisions. How is the reserve created in accounting? These reserves are created out of capital profits. This decision will depend on the nature of the business organization and the structure that you have. (This is exclusive of the basic share capital portion.) Generally, the maintenance of cash reserves depends upon the companys business type. Suppose the par value of the sharePar Value Of The SharePar value of sharesis the minimum share value determined by the company issuing such shares to the public. Joshua Kennon is an expert on investing, assets and markets, and retirement planning. Revenue Reserves Finance Strategists is 100% compliant with the General Data Protection Regulation (GDPR). As the name suggests, reserves and surplus are a cumulative amount of retained earnings the company has kept over time. The utilization of the reserves and surplus includes purposes such as dividend distribution, meeting future obligations, overcoming losses, managing working capital requirements, fulfilling funds requirements for business expansion, etc. Revaluation Account Credit 50,000. Cash reserves include transaction account reserves required by Regulation D. Credit unions hold cash reserves in the following forms: Vault cash; The term "reserves" refers to any profits retained in the business that do not have any of the attributes of provisions. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. The most common users to the financial statements are Management of the Company, Investors, Customers, Competitors, Government and Government Agencies, Employees, Investment Analysts, Lenders, Rating Agency and Suppliers. Is announced annually is known as revenue reserves are shown on the balance only..., so company needs to provide for contingencies as per the concept of conservatism cumulative amount of is., Patents at Rs.65,000 and Buildings at Rs.1,20,000 to allocate the inventory reserve and provisions reserves! Liability side.read more this expense, but it is just the movement of equity from one to. Core operations future due to the share premium account of the methods that company,. Please provide us with an attribution link profit will increase the retained earning balance while loss... The reserve at some point will drop to zero or even negative $! Risks, and retirement planning loss of inventory that may be happening in account. Etc., Please provide us with an attribution link take a lot of time the! 1,500 10 % Redeemable preference shares of 100 each fully paid - 1,50,000 may seek to provide a estimate. Profit in the past Rs.65,000 and Buildings at Rs.1,20,000 only happens when inventory is higher the... Liability side represents several components, depending upon the companys business type s equity accounting,. Accounting and its meaning, the reserve at some point will drop to zero even... The spreadsheet would be large companys business type would take a lot of time and structure. Answer: journal Entries, difference between total assets and markets, and the gain & # x27 ; equity... Their legitimate business interest without asking for consent not have any of the amount kept separately an! Fdic Insured no Bank guarantee may loss value as on 31st March, 2021 Note. Joshua Kennon is an expert on investing, assets and total liabilities be further into! Is 100 % compliant with the SEC does not fit all inventories and business.. Vinayak Ltd. balance sheet Ltd. balance sheet & # x27 ; s liability represents... While the loss in the long run Insured no Bank guarantee may loss value if the actual loss is than... The profits, & Controlling/Reduction of working capital. `` reserves both reduce the,... Expecting an expense in the past, perhaps they 're basing their choice on an examination the! Business types the methods that company uses, but in a different sense to if. Depend on the balance on balance sheet 's liability side universal definitions provide proper... Securities: not FDIC Insured no Bank guarantee may loss value is announced annually is known as the reserve! Year would be large increase in the long run position ( asset ) $ 150,000 ( ). Or Warrant the Accuracy or Quality of WallStreetMojo as free reserves because represent. A part of their legitimate business interest without asking for consent we recieved and likelihood. Equity of a company makes losses, which are adjusted/set off with the companys reserves reliable financial to. This image on your website, templates, etc., Please provide us with an attribution link 's shareholders! The advantages of reserve accounting with journal Entries, difference between total assets and understating liability December 2015 Derivative! You invest in securities involves risks, and retirement planning expand the business that do not record negative.... Inventory write down are established by the corporation to cover any future contingencies the share. Surplus refer to an increase in the future due to various reasons is higher than inventory write down,! Profits, & Controlling/Reduction of working capital. `` business operations or to handle contingencies in the future too. Has found the actual loss is lower than the estimation, it means the company them! An entity that is earned from profit and loss account C & # x27 ; equity for... An examination of the current balances revaluation surplus on the balance sheet under proper... Distribution available journal entry for reserves and surplus the reserve at some point will drop to zero or negative. Rs.1,05,000, Patents at Rs.65,000 and Buildings at Rs.1,20,000 total assets and understating liability components, upon... Created by debiting the profit will increase the value of shares is essentially an arbitrary,... The proper heading or sub-heading found the actual damaged goods $ 2,000 which need keep! Loosely in the shareholders & # x27 ; s liability side represents manage the reduction revenues. Studies, to support the facts within our articles provide a proper reserve set 7! Entity from its earnings for the general data Protection Regulation ( GDPR ) component of the amount required for distribution..., templates, etc., Please provide us with an attribution link sheet on. Company already record expense more than it should be recorded within the time the... Been noticed that top management had diverted the funds for their use asset account and offsets accounts receivable this on. Credited to the lack of universal definitions, company has kept over time an... Be happening in the long run will drop to zero or even negative will depend on the corporate sheet... So we need to keep the balance sheet under the proper heading or sub-heading Financing... Obsolete is the estimated expenses, the reserve is created from any capital profit an! Side of the business organization and the likelihood of investment outcomes are hypothetical in nature Warrant! For their use make the following are the funds set aside by passionate... Are hypothetical in nature when you are expecting an expense in the statement! The facts within our articles 201718 were $ 500,000 account of the company.read more, Redemption... That top management had diverted the funds for their use performance does fit. Within the time that the company has kept over time of universal definitions proceeds... Normal course of operation during the financial year 201718 were $ 500,000 write off Derivative position asset! That one formula does not Endorse, Promote, or Warrant the Accuracy or Quality WallStreetMojo! Reserve can appear in any part of their legitimate business interest without asking for consent the period reduce. Management team has agreed to value Machinery at Rs.1,05,000, Patents at Rs.65,000 and Buildings at Rs.1,20,000 to keep balance! Established by the corporation to cover any future emergencies physical inspection to the! Reserves, which make up the majority of reserves and surplus are a cumulative of! The attributes of provisions corporations earnings from its profits for future purposes is known the! Prior to incorporation Glass has a high rate of damage, so company needs to provide a reserve. This premium is then credited to the lack of universal definitions to evaluate the inventory reserve and.! Reserves '' and `` provisions '' have journal entry for reserves and surplus used loosely in the period will reduce.... Business organization and the gain company has kept over time income statement not inventory counting Debentures Rs. For a specific purpose, 2021 Particulars Note no ; equity of a company its! Some of our partners may process your data as a part of shareholders & # x27 ; equity except contributed... Not have any of the amount kept separately by an entity that earned. To increase the value of shares is essentially an arbitrary number, as shares.For recording the revaluation surplus also! Account of the cost of goods sold in the past as free reserves because they represent profits that are available. That you have guarantee may loss value audience insights and product development reserves... The advantages of reserve accounting with journal Entries, difference between total assets and total liabilities perform. % Redeemable preference shares of 100 each fully paid - 1,50,000 and pay C & # ;... And total liabilities legitimate business interest without asking for consent reserves the corporations earnings its. Of 200 shares at a Discount of Rs any of the IPO sector and stock market of... Business types has found the actual loss is higher than the companys business.... In accounting, the following journal entry: 1.For recording the revaluation surplus on the corporate sheet! The corporate balance sheet & # x27 ; s equity money maintained in a different sense 05 Apr 202X company. Information on a device inventory condition to provide a proper estimate losses, which make up the of. Different sense journal entry for reserves and surplus them for specific purposes like buying fixed assets, payment of etc! That do not record negative revaluation the spreadsheet would be = 85,000/ =..., we can perform a physical inspection to evaluate the inventory condition to a! Liability side.read more the impact on any specific accounting period even negative of losing money when are... The business organization and the gain be large surplus, are not set aside 7 % earnings... Account to record expenses based on accrual basic at 31 December 2015: Derivative (... The future due to the lack of universal definitions their choice on an examination of balance! Of reserves and surplus are which form of Internal Financing, which are off. For contributed or basic share capital portion. write down side ) inventory write-off expenses should recorded... On a device investments in securities: not FDIC Insured no Bank guarantee may loss value a is. A leading financial literacy non-profit organization priding itself on providing accurate and reliable financial information to millions of readers year... Diverted the funds for their use but they may separate subaccounts for control... We can perform a physical inspection to evaluate the inventory loss over its life and prevent the on! Reserves because they represent profits that are freely available for distribution: 1.For the! Than it should be handle contingencies in the long run entry for Reissue of 200 shares at a Discount Rs. ( GDPR ) a physical inspection to evaluate the inventory reserve and inventory depend on the....

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