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What is reserve & surplus in accounts
entries for Reserve & surplus
A reserve is a planned amount, a surplus is unplanned.
reserves and surplus are shown into liability side of the financial statiment, since reserve is the money set aside from the capital for future use hence defining surplus as a debit in the business thus attributing to its liabiltiness,
Amount appropriated out of earned surplus (retained earnings) for future planned or unforeseen expenditure.
A
reserves surplus
by balance sheet under reserves and surplus heading otherwise in profit and loss appropriation a/c
Surplus Reinsurance
The production of a surplus of food to allow the ability to go beyond getting subsistenceuse the surplus to support cultural activity.
they needed wood and eventually they had to trade their surplus for it and other things they didn't have but needed badly.
surplus