Revised schedule vi
This query is : Resolved
Sushant Mahajan
(Querist)
27 July 2012
An expert told me that to create any reserve in the year, a co. has to give a note regarding it....cn any1 tell me that does it mean that the profit calculated in statement of P& L by a co. is different from the one shown in B/S.....and if Reserve and surplus created during the year is to be shown in P&L,under which heading will it be recorded?
Amol S Joglekar
(Expert)
27 July 2012
Can you please give the correct details and nomenclature? Reserves are created out of appropriations. Inyour case, it seems you have created it DURING the year. By debiting the P & L A/c?????? Please clarify.
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