Question

How would you show the following two items in a company's balance sheet as at 31st march,2012 as per the requirement of schedule vi :general reserve (since 31st march,2011)rs3,00,000 statement of profit and loss (debit balance)for 2011-12rs2,00,000

Answer 1

Answer:

General Reserve = Under the main head of Equity & Liabilities and in the head of Reserve and Surplus.

Profit & Loss(Dr) = It is deducted from reserve and Surplus in the head of Equity & Liabilities.

I hope it helps :)