How to transfer p&l surplus amount to share capital

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Sreejith. M (Querist)
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19 September 2017
Our society made a profit of Rs.5Lakh in FY16-17. We have to transfer this amount to share capital ? And pls tell the entry. Thanks

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 September 2017 Transfer it to reserves and surplus then Reserves and surplus will be part of share capital.

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RAJA P M

RAJA P M (Expert)
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19 September 2017 Yes. I agreed to Mr SEETHARAMAN Sir... @Mr. Sreejith.., Also Reserve and Surplus A/c is part of Share Capital... In case you want a JV... follow this... Dr. Profit & Loss A/c - XXXX Cr. Reserve and Surplus - XXXX....

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