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Question No 01 Chapter No 14 – USHA Publication 11 Class

Question No 01 Chapter No14
Q-01 - CH-14 - USHA +1 Book 2020 - Solution

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Question No 01 Chapter No 14

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1. SS Limited earned a net profit of RS 12,00,000 during the years 2018-19. the company created general reserve Rs 2,00,000 and dividend equalization reserve Rs 3,50,000 out of profit
Pass the necessary journal entry for the creation of reserves.

The solution of Question No 01 Chapter No 14: –

In the Books of SS Limited
DateParticulars
L.F.DebitCredit
2019     
Mar. 31Profit/Loss A/cDr. 5,50,000 
 To General Reserves A/c   2,00,000
 To Dividend Equalisation Reserve A/c   3,50,000
 (Being the reserves created out of profit.)   
     

 

 

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Also, Check out the solved question of all Chapters: –

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

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Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

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Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

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Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

 

 

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