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Workings I need

MPR Sanjay Kumar (3118 Points)

16 April 2023

Reserves and surplus workings format I need plse give me an example for notes to accounts..

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prasad Nilugal ( GST Practitioner & Accounts ) (14801 Points)
Replied 17 April 2023

Reserve and Surplus is created out of profit and loss Appropriation A/c , we show under Equity and Other liability in Balance sheet. following are the reserve we create.

1) Capital reserve
2) Capital redemption reserve
3) Revaluation reserve
4) General reserve
Less profit and loss A/c if ( loss)
5) Sinking Fund

6) security premium Reserve

7) Other reserve

Note to Accounts is additional information given in the financial statements, for example Contingent Liability that is suppose to be a not confirm future Liability, we Can not show in the Balance sheet so same is shown Under the Notes to Accounts .

1) Claim not acknowledge as debt
2) Uncalled amount on partly paid shares
3) Arrears on Cumulative Dividend
4) Other Contingent Liability
are the example.