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Reserves and Surplus


imran khan (imran@123)     21 January 2021

imran khan
imran@123 
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if R & S negative what it means...
In companies accounts Schedule III
Sourav

Sourav (Student)     21 January 2021

Sourav
Student 
 280 likes  4450 points

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If reserve and surpluses are in negative figure it means that the profit is negative for that year i.e, loss occurs or if any reserve carried forward at losses from previous years.
Under companies act Such R&S should be shown in negative figure in balance sheet under Shareholders Funds and Capital
prasad  Nilugal

prasad Nilugal (Sr . Accountant and GST Practitioner . )     21 January 2021

prasad Nilugal
Sr . Accountant and GST Practitioner .  
 381 likes  5662 points

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AS per Schedule III  - Debit  Balance  of  Profit  & Loss account  shall be shown  as  negative figure  under  "  Surplus "  . Similarly balance of  Reserve & Surplus "   after   adjusting negative balance  of Surplus , if  any , Shall be shown under the  head " Reserve & Surplus" even if the resulting  figure is in the negative . 


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