Question No 01 Chapter No 14 – USHA Publication 11 Class

Question No 01 Chapter No14

Question No 01 Chapter No 14

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
Date Particulars
L.F. Debit Credit
2019          
Mar. 31 Profit/Loss A/c Dr.   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: –

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Vouchers and transactions

Chapter No. 4 – Journal

Chapter No. 5 – Ledger

Chapter No. 6 – Cash Book

Chapter No. 7 – Other Subsidiary Books

Chapter No. 8 – Journal Proper

Chapter No. 9 – Trial Balance 

Chapter No. 10 – Bank Reconciliation Statement

Chapter No. 11 – Depreciation

Chapter No. 12 – Provisions and Reserves 

Chapter No. 13 – Bills of Exchange

Chapter No. 14 – Rectification of Errors 

Chapter No. 15 – Financial Statements – (Without Adjustments)

Chapter No. 16 – Financial Statements – (With Adjustments)

 

 

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