October 30, 2016 admin

Increase Other Capital Reserves

Adjustments to Income

NON US INCREASE OTHER CAPITAL RESERVES ADDITIONS TO INCOME ACCOUNT
9920

ACCOUNT EXPLANATION
Reserve increase approved by Board of Directors at year end on profit after income taxes.
TRANSACTIONS
  Jrnl. Dr. Cr.
  Other Capital Reserve increases at year end CD
    Increase Other Capital Reserves 9920
      Other Capital Reserves 2865
COMMENTS
  • Other capital reserves can be increased up to total after tax profit, after deduction of employees profit sharing and legal reserve.
  • Usage of this account requires Board of Directors agreement.
  • A supporting schedule should be prepared for control and management review.