How to transfer p&l surplus amount to share capital
This query is : Open
Sreejith. M
(Querist)
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
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
(Expert)
19 September 2017
Transfer it to reserves and surplus then Reserves and surplus will be part of share capital.
Message likes :
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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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