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Question 19 Chapter 11 of Class 12 Part – 2 – 2024
19. (Reserve & surplus in Balance Sheet) How would you show the following items in the Balance sheet as at 31st March 2018 as per the requirement of Schedule III of Companies Act, 2013.
General Reserve (Since March 31, 2017) Rs 8,00,000, Surplus i.e. balance in Statement of Profit & Loss (Debit Balance) for 2017-2018 Rs 12,00,000?
Balance Sheet
| Particulars |
Note no. | Amount |
|---|---|---|
| II Equity & Liabilities | ||
| 1. Shareholders’ Fund | ||
| Reserve & Surplus | 1 | (4,00,000) |
| Total | (4,00,000) |
Notes to accounts
| Particulars |
Note no. | Amount |
|---|---|---|
| 1. Reserve & Surplus | ||
| General Reserve | 8,00,000 | |
| Less: Surplus i.e. balance in statement of profit & loss | (12,00,000) | |
| (4,00,000) |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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