last year company profit is Rs 50.000 ,the part of the profit is transfer to

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

Question Posted / tanveer ahmed

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last year company profit is Rs 50.000 ,the part of the profit is transfer to reserve and surplus ..

Answer / surbhi bhandari

reserve & surplus a/c debit to profit & loss a/c

Is This Answer Correct ?

15 Yes

0 No

last year company profit is Rs 50.000 ,the part of the profit is transfer to reserve and surplus ..

Answer / 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

last year company profit is Rs 50.000 ,the part of the profit is transfer to reserve and surplus ..

Answer / tapan

when we transferred the profit in Reserve & Surplus Entry is

Reserve & Surplus A/c Dr
To Profit & Loss Account

Now Loss Occur so just reverse Entry

Profit & Loss A/C Dr
To Reserve & Surplus

Is This Answer Correct ?

3 Yes

3 No

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