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
Answers were Sorted based on User's Feedback
Answer / surbhi bhandari
reserve & surplus a/c debit to profit & loss a/c
Is This Answer Correct ? | 15 Yes | 0 No |
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 |
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 |
A motor car purchased on 1 apr 10 worth rs 10000 taking a loan from bank of rs 8000. Emi will b 500 pm inclusive of interest rs 100 pm.all repayments are done by bank overdraft. Prepase bshEet & P&L as at 31 mar 10
sir, some body tell me how i treat the abnormal fire loss stock :-our company suffer a fire loss during goods in transit (goods were hold at warehouse and fire occured) now how i account for the loss and what type of ledger should i create and under which group
Mention the types of ledgers?
what is the pecentage of sale tax
on 02/05/2013 issued a cheque to third eye ltd of Rs.14000/- in full and final settlement against the due on amount
i have paid the vat amount for the financail year 2009-2010 in the financail year 2011-2012.how to pass journal entries
Tell me what is “deposit in transit”?
Tell me what is tally accounting?
What did you meant by Debit and Credit?
What is the Journal Entry of Closing Stock (Raw Material) of a manufacturing Company
An importer import some goods @10,000 us dollar on cif basis following dollar rates avilable on the date of presentention of bill entry.(1) Rbi floor rate 46.35,(2) rate notify by CBE AND C under section 14(3)(a)(i)of custom act Rs.46.55 (3) Rate at which bank has reliased the payment from importer Rs.46.58, what will be assessable valu according to custom act?
iam working with tally ERP.9,but iam dont prepared reconciliation,trial balance,profit&loss,balance sheet etc.bcoz all these activicties done in head office.plz give me citeria where iam prepared.