last year company profit is Rs 50.000 ,the part of the
profit is transfer to reserve and surplus account . but
the current year company suffering loss .in that situation
company can take help Rs 25000 from reserve and surplus
. if yes than how can ,please reply me what is general entry
- 3 Answers
- 5880 Views
- IBM, TCS, I also Faced
- E-Mail Answers
Answer Posted / ravi
yes reserves & surplus amount which is kept as a reserve for last year can be utilized in this year
journal entry
reserves&surplus a/c dr 25000
TO P&LA/C 25000
Remaining 25000 can be utilized to set off future occuring
losses
| Is This Answer Correct ? | 8 Yes | 0 No |
Post New Answer View All Answers
A non-function currency claim:- Employee while updating a non functional currency claim the system uses the period end rate i.e. any claim pertaining to the period 01Aug - 25th Aug. the system uses the period end rate as of July 31st. (2) Also, what is the basis of using the period end rate not the average rate for expenses claim. Can you please clarify my question.
What is meant by turnover?
Explain what does the standard journal entry includes?
What are the major components of country's trade account?
What's the accounting entry when an Invoice is created in AR?
How to post advance paid to a supplier in oracle jd edwards
What is bad debt expense?
Pass the journal entry: rent outstanding
Compare financial accounting and cost accounting.
What is the difference in accounting and marketing and what is so different about them?
examole of cash to cash contra entry
In the Manufacturing IF QC reject the material. Then where to record rejected material amount.
Explain me the difference between public and private accounting?
why accounting is important in business?
what are the charecteristics of cost accounting financial accounting managment accounting payroll accounting environmental accounting h r accounting forensic accounting inflation accounting?
