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Reserves and Surplus

imran khan (imran@123)     21 January 2021

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

Sourav (Student)     21 January 2021

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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 .  
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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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