[ISC] Q. 16 Solution of Final Accounts of Companies – Application TS Grewal ISC (2023-24)

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Solution of Q 16 Final Accounts of Companies-Application TS Grewal Class 12 ISC Board Accountancy Book 2023-24

A company has an opening credit balance in Surplus, i.e., Balance in Statement of Profit & Loss of ₹ 1,00,000. During the year, it earned a profit of ₹ 75,000. It decided to transfer ₹ 15,000 to Debentures Redemption Reserve (DRR) and also proposed to pay dividend of ₹ 25,000.

How will be the appropriation shown in the financial statements?

Solution:-

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