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
- 5903 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
i WANT TO KNOW WHAT IS THE INTEREST RATE IF WE CAN NOT PAY THE DEPOSIT SALE TAX AMOUNT WITH IN PERIOD
on what rate depreciation will be calculated?
what is the relationship between cost accounting financial accounting and managerial accounting?
what are the adjustments and treatment with connection to the profit and loss appropriation accounts and how they do?
Is there Disqualification of Auditor u/s 139 of Companies Act 2013 if the auditor is indebted towards the company to be appointed as an auditor, if amount exceeds more than Rs.1000 as against the provision related to Companies Act, 1956 ?
example wrongly financial statments showing vat refund (under Advances) for the finanical year 08-09 , but present assement year after assement by cto given vat refund more than ledger showing balance then decided to every month set off vat payable to vat refund(advance) but more than recoverd compare with company and cto then what is the entry to be take.
What's the accounting entry when an Invoice is created in AR?
what is the minimum & maximum amount paid by company per day
What is the difference between General Ledger and Ledger?
What qualification do you need to become an accounting professional?
Purchase and sales sahres accounting entry which have stt brokerage and other taxes
under which ledger should i make opening work in progess and closing work in progress
What is the difference between cost accounting management accounting and financial accounting?
hi...this is chaitanya fresh bcom computer graduate i need job in finance feild will i get in genpact, deloitte, bank of america, or any other mnc...?
salary and rent entry with tds deduct
