Doubt on Reserves & Surplus
This query is : Resolved
18 November 2021
Sir / Mam
The balance sheet of a Pvt Ltd Co, shows the reserves and surplus balance of Rs.7,75,000/- at the end of year?
It means the equal amount should be in bank at the end of year?
Or
If not, It is shown as mere record to adjust the loss in future?
Kindly please advise us
thanks in adv
The balance sheet of a Pvt Ltd Co, shows the reserves and surplus balance of Rs.7,75,000/- at the end of year?
It means the equal amount should be in bank at the end of year?
Or
If not, It is shown as mere record to adjust the loss in future?
Kindly please advise us
thanks in adv
18 November 2021
Reserves and surplus are the total amount of maintained earnings reported as a component of Shareholders Equity and set aside by the company for specific objectives such as purchasing fixed assets, paying legal settlements, repaying debts, or paying dividends, and some others.
The same amount need not be lying in bank.
The same amount need not be lying in bank.
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