how do we pass the Entry for Reserves? and What is the
Meaning of Surplus?
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Answer / gulzar.thpl@gmail.com
entry Will be
Reserves a/c ( particular reserve) Dr.
To profit and loss a/c Cr.
(Being fund transfer to particular reserve.)
Surplus :- i think when profit is transfer to verious
resurves and fund rest of balance of Profit is called as
surplus
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