ACCA December Exams

Post comments & Vote in Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for March 2025 exams.
Get your discount code >>

General Reserves

This topic has 1 reply, 2 voices, and was last updated 7 years ago by John Moffat.

Viewing 2 posts - 1 through 2 (of 2 total)

Author
Posts
April 17, 2017 at 1:25 pm #382115
Xairie
Member
- Topics: 41
- Replies: 42
Heelo Sir..Can the general reserve be ised for the settlement of a Non current liability??
April 17, 2017 at 3:19 pm #382166
John Moffat
Keymaster
- Topics: 57
- Replies: 54500
All of the reserves are simply the amounts owed to the shareholders as extra to the share capital.
To settle a non-current liability needs cash! The entry is Cr Cash and Dr Non-current liability.
Author
Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.