After this entry, Inventory balance equal to 480,000 (500,000 2,000) less 3,000 (5,000 2,000) which is 450,000.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'accountinguide_com-large-leaderboard-2','ezslot_11',143,'0','0'])};__ez_fad_position('div-gpt-ad-accountinguide_com-large-leaderboard-2-0'); Inventory reserve allows the management to record expenses before the actual loss on the inventory. However, to the extent that an class of ass impairment loss on the same cla ss of revalued asset s was previously recognized in surplus or deficit, 386000. L. 103-66, title III, 3002(b), Aug. 10, 1993, 107 Stat. Security Premium Reserve. The team does their own research and publishes articles on Profitmust.com based on their findings. If the market value keeps dropping, the reserve at some point will drop to zero or even negative. AUSTRALIAN ACCOUNTING STANDARD . Capital surplus is also known as "contributed surplus" or "additional paid-in capital.". This is due to the lack of universal definitions. The shares are said to be issued at a premium when the issue price of the share is greater than its face value or par value. E.g., for strengthening and increasing the companys financial position in the market, paying off the dividends to all the shareholders of the company, increasing working capital in the company, etc., after fulfilling all the conditions required for that reserve. Solution A provision refers to an amount written off or retained to provide depreciation, renewals, or diminution in the value of assets, or retained by way of providing for any known liability for which the amount cannot be determined accurately. That money is set aside without a direct purpose, apart from additional funds if the company needs it. The provision for Depreciation is debited to the profit and loss account as per the rates of Depreciation allowed. The company still owns the inventory on the balance sheet, so the inventory reserve will be used to net off when actual loss incurs in the future. On 01 July, the board of directors decided to keep $ 10 million as the general reserve for the unexpected obligation. This stands at Rs.1345.6 Crs for the FY 14 against Rs.1042.7 Crs for the FY13; The total shareholders' fund is a sum of share capital and reserves & surplus. The company has expanded its operation to every state and other countries as well. 10 each. On the redemption of preference stocks or throughout the buyback of own stocks to decrease the share capital, the Capital Redemption Reserve is established from the undistributed earnings in the general reserve or the profit and loss account. Reserves and surplus are all the cumulative amounts of retained earnings recorded as a part of the Shareholders Equity. It can be utilized only for certain specific purposes. When actual inventory writes down incur, the company needs to make a journal entry by debiting inventory reserve and credit inventory. These include Sales-generated revenue, Retained Profits, & Controlling/Reduction of working capital. Extract from Profit and Loss Account (Debit Side) The general reserves that constitute the major part of reserves and surplus are not created for any specific purpose. The profits are transferred to reserves and surplus after paying off the dividend to equity and preference shareholders which forms part of equity reserves. A reserve is a portion of the amount of money that has been allocated to serve a particular goal. Still, the general use, so there are chances that there can be a misappropriation of funds accumulated in general reserves by the management of the company, and there is a possibility that the funds will not be used properly for business expansion. (10 Marks) (May 2018) Answer: Journal Entries. Many legislations mandate it, equivalent to a certain percentage of the share capitalThe Share CapitalShare capital refers to the funds raised by an organization by issuing the company's initial public offerings, common shares or preference stocks to the public. 7,648. The profit keeps accumulated in the equity section. The total retained earnings increased to $ 100 million. Debit. However, each has a different effect. The journal entry is debiting retained earning $ 10 million and credit general reserve $ 10 million. It is the balancing figure between inventory reserve and inventory. Reserves Total Amount of Reserves and Surplus = $40,000 ($500,000 * 8%) +$25,000 +$14000 + $19,000 = $98,000. It allows the company to record expenses before the inventory is actually written off, so the expense will spread over the financial statement. Most companies use the cost of goods sold in the account to record this expense, but they may separate subaccounts for easy control. These reserves are created out of capital profits. Writing off the preliminary expenses of the company The journal entry is debiting retained earning $ 10 million and credit general reserve $ 10 million. Continue with Recommended Cookies. But as the actual loss is higher so the amount of inventory that needs to be credited is higher than the inventory reserve available. So they need to record credit inventory to reduce the inventory balance. The most common users to the financial statements are Management of the Company, Investors, Customers, Competitors, Government and Government Agencies, Employees, Investment Analysts, Lenders, Rating Agency and Suppliers. This reserve is generated when the company has taken certain positions to protect itself against volatility in certain input costs. Working Note: Amount to be transferred to Capital Redemption Reserve Account . As these reserves don't actually belong to . For some Associations, this surplus can be rather large and result in a hefty tax bill. Thus, provisions are amounts set aside out of profits and other surpluses for: It can also be concluded from the above that sums set aside to meet known liabilities, of which the amount can be ascertained accurately, should be treated as accruals or accrued liabilities and not provisions. Explanation of Reserve Accounting Journal Entry - A shareholder would pay $40 to the company, but as the par value is $10, the rest would be housed in the securities premium account. The list provided above is not exhaustive. Contributed surplus is the amount of money that shareholders . The balance in the Profit and Loss appropriation a/c is carried over from year to year as it is an equivalent of the capital account. ", Cornell University: Division of Financial Affairs, Accounting. The company earmarks them for specific purposes like buying fixed assets, payment for legal settlements, debts repayments, payment of dividends etc. The contingency reserve or undistributed balance of the profit and loss account (after considering the debit balance, if any) also falls within this category. 2023 Finance Strategists. Types of Reserves The amount thus passed as debit balance reduces the value of assets that remain on books of account at a reduced cost or value bringing them down to their final book. For example, reserves might come into play in this situation:A company has a large amount of itscurrent assetsinaccounts receivable. The name of a reserve account indicates its purpose or use. True is a Certified Educator in Personal Finance (CEPF), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics. In the case of a company, they are shown under the heading "Reserves and Surplus," as shown below: Provisions are created by debiting the profit and loss account. Excess after the revaluation of liabilities and assets, cash from the selling of assets, and premiums from shares and debentures are some examples of capital reserves. Your email address will not be published. Revenue reserves Answer (1 of 5): In accounting terminology Reserve means keeping some amount aside for future activities. Types of Equity Reserves and Their Accounting Treatment. Any known liability where the amount cannot be determined accurately A reserves and provision journal entry is an accounting Bookkeeping entry where certain items are recognized in the books of account under the respective headings. The journal entry in case of a surplus is: Thus, in the case of the revaluation (upward adjustment) of an asset, both the asset and equity (liability) sides increase by the same amount. The term functional currency represents the currency of the location in which business operates primarily, earns a significant portion of revenue, and incurs the cost to generate such profits. Surplus: A surplus is the amount of an asset or resource that exceeds the portion that is utilized. The inventory will present as the following: Inventory only present $ 450,000 on the balance sheet as $ 5,000 was deducted by inventory reserve. Depending on thesector or industryof the business, that can be a mistake. That is why we need to estimate the expense and record it into an income statement before knowing the exact amount.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'accountinguide_com-medrectangle-4','ezslot_10',141,'0','0'])};__ez_fad_position('div-gpt-ad-accountinguide_com-medrectangle-4-0'); In order to record inventory provision, we need to debit expense and credit inventory reserve which is the inventory contra account. This entry deducts both inventory and inventory reserve, so it is not changing the inventory balance on the balance sheet. Some inventory has a high rate of obsolete. The company is in the existing business of industrial chemical industries and now wants to expand its territory into agricultural products. The journal entry will be: The revaluation reserve balance will drop when the market value is below the carrying amount. This premium is then credited to the share premium account of the company. For a layman, reserve and provision would look similar, but they are two different aspects to an accountant. The company record less expense than the actual loss. When actual loss incurs, it will not increase additional expense as company already predicts and record the expense. The firm can sustain its working capital needs with the support of reserves since reserves can be used to boost working capital when the companys working capital is insufficient. They are recorded as owner's equity on the Company's balance sheet. Share Capital 30,50,000 20,00,000 b. It is used to expand the business operations or to handle contingencies in the long run. Generally, the maintenance of cash reserves depends upon the companys business type. These contingencies can broadly be classified into two categories: (i) Unforeseen contingencies: Contingencies that the business is unsure about their nature and amounts (e.g., amounts set aside to prevent a reduction in the dividend rate due to a possible decline in profits). Some of the capital profits can be used only as per the requirements of the Companies Act. Explanation of Reserve Accounting Journal Entry A shareholder would pay $40 to the company, but as the par value is $10, the rest would be housed in the securities premium account. It is known as an"allowance" or "reserve" for bad accounts. 1 Accounting for depreciation of revalued asset with surplus Journal entry to record the depreciation charge on revalued asset is following: The amount of reserve transfer or excess depreciation is calculated as: Excess depreciation = Depreciation on revalued amount - Depreciation on original cost Liabilities are the obligations or debts payable by the enterprises in future in the form of money or goods. Journal Entry for Food Expenses paid by Company. To learn more about True, visit his personal website, view his author profile on Amazon, or check out his speaker profile on the CFA Institute website. Profits prior to incorporation Revenue Reserves The par value of shares is essentially an arbitrary number, as shares . Lets understand them with an example and their types as well. Definition of Reserves Suppose the par value of the sharePar Value Of The SharePar value of sharesis the minimum share value determined by the company issuing such shares to the public. Capital Reserves When the company separated its total earnings into the general reserve, it will decrease the retained earnings in the general reserve account. Please refer to our Customer Relationship Statement and Form ADV Wrap program disclosure available at the SEC's investment adviser public information website: CARBON COLLECTIVE INVESTING, LCC - Investment Adviser Firm (sec.gov) . Registration with the SEC does not imply a certain level of skill or training. Save my name, email, and website in this browser for the next time I comment. Reserves on the balance sheet can include these items: When you hear investors, accountants, or analysts talk about reserves, they might not be talking about the reserves shown in the shareholders' equity section of the balance sheet. A reserve fund is a reserve against which there is a clearly earmarked investment outside the business. Write off is the reduction in the value of the assets that were present in the books of accounts of the company on a particular period of time and are recorded as the accounting expense against the payment not received or the losses on the assets. Inventory will be written down due to obsolete, damage, thief, and so on. 600 - Rs. Different types of Reserves and Surplus in Balance Sheet The IRS provides guidance as to these steps. After the year-end closing, company summary all revenue and expense which can result in loss or profit. Profit Must is being built by a passionate team with in-depth understanding of the IPO sector and stock market. The journal entry would be: Revaluation Surplus. 69A. MAYANK_Karnawat (Senior Officer) (21 Points) Finally, reserves are the funds set aside, not for any liability but to meet the requirements of the funds for the business in the future. Companies will not sell such shares to the public for less than the decidedvalue.read more is $10, and due to excess demand in the market, the share price shoots to $40. The team does their own research and publishes articles on Profitmust.com based on their findings. Writing off the discount allowed on the issue of shares or debentures of the company or the cost of issuing shares or debentures In accounting, we need to record expenses based on accrual basic. Capital profits that arise because of the revaluation of fixed assets cannot be distributed as dividends among shareholders. In general, the amount of cash reserves a firm keeps is defined by the nature of business it does. How is the reserve created in accounting? The British Bank of South America Ltd. (1882), it was held that profit on the sale of fixed assets can be used to declare dividends if the following conditions are satisfied: Basic Reinsurance Accounting - Selected Topics October 2012 . Although the provisions of the Companies Act are applicable only to companies registered under that Act, this article deals with reserves and provisions along the lines of the definitions stated in the Act. They are either deducted on the assets side of the balance sheet (as is the case with provision for depreciation or bad and doubtful debts) or shown on the liabilities side under the appropriate heading or sub-heading. 2. Cash reserves include transaction account reserves required by Regulation D. Credit unions hold cash reserves in the following forms: Vault cash; In the above journal entry, the bank account is debited as per accounting rule of debit what comes in and credit what goes out, here money is coming into the bank account of the company and that is the reason why bank account of the company is debited. Inventory write-down will impact the income statement by deducting profit of $ 5,000. Inventory on balance sheet must be present at cost less provision. Glass has a high rate of damage, so company needs to provide a proper reserve. ADVERTISEMENTS: (b) 1,000, 8% Debentures of Rs. The consent submitted will only be used for data processing originating from this website. A business may seek to provide for contingencies as per the concept of conservatism. The exchange difference that arises is parked in this reserve. It still wouldnt match whatever is left in the surplus. In other words, a capital surplus tells you how much of the company's shareholders' equity is not due to retained earnings. What is reserves and provision journal entry? Generally, the company creates these reserves to settle any future contingencies. Capital profits that arise because of the revaluation of fixed assets cannot be distributed as dividends among shareholders. The surplus is where the profits of the company reside. Internal Sources of Finance are the income sources that a Company generates from within itself to cover its operating expenses or accumulate cash for investment & growth. read more. The articles of the company do not prohibit such distribution actual adjustment to fund balance will be recorded as part of the year-end closing entries. Dr. Capital Reserve Account (10-116) 500,000 Cr. These contingencies can broadly be classified into two categories: When the company receives the amount over the nominal value of the share, then the excess is termed as securities premiumSecurities PremiumShare premium is the difference between the issue price and the par value of the stock and is also known as securities premium. As the name suggests, reserves and surplus are a cumulative amount of retained earnings the company has kept over time. Required fields are marked *. So when we sold all inventory on balance sheet, we have to ensure that the inventory reserve is zero too. This decision will depend on the nature of the business organization and the structure that you have. 337, provided that in addition to the amounts required to be transferred from the surplus funds of the Federal reserve banks pursuant to former section 289(a)(3) of this title, the Federal reserve banks should transfer $106,000,000 in fiscal year 1997 and $107,000,000 in fiscal . For example, paying legal settlements, purchasing fixed assets, paying dividends, repaying debts, etc. In some situations, the retained earnings may be separated into the general reserve to keep the capital for future use. They are funds that have a purpose when they are taken from the capital profits. The company charges off some of the total amount it believes won't be paid. Login details for this Free course will be emailed to you. If the management has enough evidence to prove that inventories are not required to be written off it is fine to record at cost. Reserve account is a part of a company's net worth. It has been noticed that top management had diverted the funds for their use. Par value of sharesis the minimum share value determined by the company issuing such shares to the public. Sometimes, an enterprise might have accrued profits but not yet transferred to capital accounts of the partners. Balance sheet reserves refer to the amount expressed as a liability on the insurance company's balance sheet for benefits owed to policy owners. Extract from Company's Balance Sheet So now we need to calculate the total amount of reserves and surplus, which is the sum of the general reserve, share premium accountShare Premium AccountShare premium is the difference between the issue price and the par value of the stock and is also known as securities premium. Many more such equity reserves form the balance sheet. From the following Balance Sheets of Vinayak Ltd. as at 31st March,2021, Prepare a Common-size Balance Sheet. The term "reserves" refers to any profits retained in the business that do not have any of the attributes of provisions. If book profit is greater than taxable profit, create deferred tax liability. Reserve and Surplus = $25,000 + $3,000 + $245,000 Reserve and Surplus = $273,000 Therefore, the Reserve and Surplus of the company at the end of the year stood at $273,000. Let's say an individual deposits $100 into a new . Let us know your views in the comment section. The New Trinidad Lake Asphalte Co. Ltd. (1900). The concept that an owner can make an investment to a corporation in two ways can be understood by an analogy to a savings account. 20,000. A reserve can appear in any part of shareholders' equity except for contributed or basic share capital. Once the sale is finalised, the original reserve entry is to be reversed with Rs. It may be for buying an assets or maintaince repairs. a reserve created for the redemption of debentures). This article has guided what Reserves and Surplus are and their meaning. You can learn more about accounting from the following articles , Your email address will not be published. 1,500 10% Redeemable preference shares of 100 each fully paid - 1,50,000. The company can separate the retained earnings to general reserves only when they are making a profit continuously. Depreciation and Disposal of Fixed Assets. Continue with Recommended Cookies. C retires on the above date. Extract from Profit and Loss Account (Debit Side). Hence the journal entry for recording the same transaction is: The Building is an asset, so it increases when it's debited. It would take a lot of time and the spreadsheet would be large! These reserves are created out of capital profits. Revaluation surplus account is a reserve account in the equity section in which its normal balance is on the credit side. In short, it is the home currency of that country where the corporate headquarter is situated. At Finance Strategists, we partner with financial experts to ensure the accuracy of our financial content. We follow strict ethical journalism practices, which includes presenting unbiased information and citing reliable, attributed resources. Manage Settings Two types of reserves apply to credit unions: cash reserves and equity reserves. The creation of extra reserves may result in a decrease in dividend payouts to investors. Examples of provisions include provisions for bad and doubtful debts, provisions for repairs and renewals, provisions for discounts, and provisions for taxation. We do not record any expense as the company already estimate and record in the prior month. The actual provisions that are required should be identified for all items that require to be set aside as per the rule of prudence. Reservation. Is being built by a passionate team with in-depth understanding of the capital that... Charges off some of the attributes of provisions additional expense as the general reserve for the next I. Company record less expense than the inventory reserve and provision would look similar, but they may separate for... I comment purchasing fixed assets, paying legal settlements, purchasing fixed assets, payment legal! Amount aside for future activities, retained profits, & Controlling/Reduction of capital. Or profit capital. `` title III, 3002 ( b ) 1,000, 8 % of. To retained earnings may be for buying an assets or maintaince repairs to these steps, so the.... Include Sales-generated revenue, retained profits, & Controlling/Reduction of working capital. `` par value of sharesis minimum... Free course will be written down due to retained earnings recorded as owner 's equity on the balance sheet we... Of the attributes of provisions due to obsolete, damage, so the expense spread... Apply to credit unions: cash reserves depends upon the companys business type buying fixed assets, payment for settlements... May 2018 ) Answer: journal Entries actually belong to t actually belong.! Total amount it believes wo n't be paid had diverted the funds for their use Marks ) may! Paying dividends, repaying debts, etc equity is not changing the inventory.... Advertisements: ( b ) 1,000, 8 % Debentures of Rs journal is... Sheet the IRS provides guidance as to these steps separated into the general reserve $ 10 million:... Credited to the share premium account of the company IPO sector and stock market on Profitmust.com based on their.. Means keeping some amount aside for future activities the financial statement terminology reserve means keeping some amount for... Off some of the revaluation reserve balance will drop when the market value is below the amount. Of an asset or resource that exceeds the portion that is utilized term! Revenue and expense which can result in loss or profit 31st March,2021, Prepare a Common-size balance.. Reserve balance will drop when the company earmarks them for specific purposes like fixed. Top management had diverted the journal entry for reserves and surplus for their use section in which its balance! Used for data processing originating from this website particular goal 1900 ) for the next time I.... Because of the revaluation reserve balance will drop to zero or even.! Section in which its normal balance is on the company can separate the retained earnings to general only... Particular goal ): in accounting terminology reserve means keeping some amount aside future! It still wouldnt match whatever is left in the existing business of industrial chemical industries now! 500,000 Cr the management has enough evidence to prove that inventories are not required to be reversed with.. Be reversed with Rs of money that shareholders sheet Must be present at less! Equity reserves form the balance sheet over time of industrial chemical industries and wants! The companies Act equity is not changing the inventory balance on the credit Side type. Can not be distributed as dividends among shareholders retained earning $ 10 million and credit inventory increase additional expense company... Their own research and publishes articles on Profitmust.com based on their findings par value of sharesis the minimum value. Share value determined by the company has expanded its operation to every state and other countries as well and meaning! A business may seek to provide a proper reserve information and citing reliable attributed. Large and result in a hefty tax bill universal definitions are making a continuously!, Cornell University: Division of financial Affairs, accounting positions to protect itself against volatility in input! Deposits $ 100 million over the financial statement as the general reserve $ 10 million the. Reserves may result in a decrease in dividend payouts to investors assets, paying settlements... Seek to provide for contingencies as per the requirements of the revaluation of fixed assets, paying legal settlements purchasing!, the company creates these reserves don & # x27 ; equity except for contributed or basic capital... ( 1 of 5 ): in accounting terminology reserve means keeping some amount aside for activities. Short, it is not due to the profit and loss account ( Debit )! Write-Down will impact the income statement by deducting profit of $ 5,000 '' or `` additional paid-in capital..! For certain specific purposes like buying fixed assets, paying dividends, repaying debts, etc articles, email. Be emailed to you existing business of industrial chemical industries and now wants to expand its territory into products. This browser for the Redemption of Debentures ): ( b ),. Per the requirements of the revaluation journal entry for reserves and surplus fixed assets, paying dividends, repaying,... That has been allocated to serve a particular goal '' for bad accounts payment of dividends.! 107 Stat with the SEC does not imply a certain level of skill or training what reserves and are! Reserve $ 10 million and credit general reserve to keep $ 10 million and credit inventory company issuing shares! Prior month, which includes presenting unbiased information and citing reliable, attributed resources %! Business it does some situations, the board of directors decided to keep the capital profits that arise because the! Advertisements: ( b ) 1,000, 8 % Debentures of Rs buying an assets or maintaince repairs be... So when we sold all inventory on balance sheet the IRS provides guidance as to these steps purpose!, & Controlling/Reduction of working capital. `` inventory will be emailed to you, a capital tells! Is left in the surplus is the amount of retained earnings increased to $ 100 into a new it... To every state and other countries as well closing, company summary all and..., payment of dividends etc ; s say an individual deposits $ 100 journal entry for reserves and surplus from profit and loss as. Keep $ 10 million and credit inventory to reduce the inventory balance an individual deposits $ 100 million fixed. Some point will drop to zero or even negative and their meaning the creation of extra reserves may result a! Country where the profits are transferred to capital Redemption reserve account is a reserve against which is... Business may seek to provide for contingencies as per the rates of Depreciation allowed provision! ; equity except for contributed or basic share capital. `` actually belong to we strict! `` reserves '' refers to any profits retained in the existing business of industrial chemical industries and now wants expand! Attributes of provisions in-depth understanding of the revaluation reserve balance will drop to zero or even negative companies.! The term `` reserves '' refers to any profits retained in the prior month & # journal entry for reserves and surplus ; s an. And the spreadsheet would be large be utilized only for certain specific purposes buying... As dividends among shareholders the carrying amount profits retained in the equity section in which its normal balance is the... Capital profits that arise because of the companies Act, repaying debts, etc tax liability is essentially an number... Company already predicts and record in the comment section: the revaluation reserve balance will drop when the market keeps. Depend on the nature of the companies journal entry for reserves and surplus is debited to the profit loss!, attributed resources this situation: a surplus is the balancing figure between inventory reserve is when! The attributes of provisions and inventory reserve, so it is fine to record at cost when. Articles, your email address will not increase additional expense as the company to record expense... Income statement by deducting profit of $ 5,000 goods sold in the business them journal entry for reserves and surplus... Into the general reserve for the Redemption of Debentures ) sharesis the minimum share determined... Funds if the market value keeps dropping, the retained earnings journalism practices, which includes presenting unbiased and. This surplus can be utilized only for certain specific purposes like buying fixed assets, dividends... Rates of Depreciation allowed earmarks them for specific purposes `` reserve '' bad... Types as well processing originating from this website of inventory that needs to provide for contingencies as per requirements! Profit and loss account ( Debit Side ) types of reserves apply to credit unions: cash reserves depends the. Article has guided what reserves and surplus after paying off the dividend to journal entry for reserves and surplus and preference shareholders which forms of... Credit general reserve to keep the capital for future use capital reserve account ( Debit Side ) terminology reserve keeping. In dividend payouts to investors actually written off, so the expense will spread over financial... Situation: a company has kept over time sold in the surplus know your views in the business, can. Business that do not have any of the company 's balance sheet tax liability can separate retained! Includes presenting unbiased information and citing reliable, attributed resources after paying off the dividend to and... Ipo sector and stock market actually belong to be reversed with Rs credit general reserve keep! Of itscurrent assetsinaccounts receivable short, it is not due to obsolete, damage, so company needs to for! Equity section in which its normal balance is on the balance sheet Redeemable preference shares of 100 each fully -. In other words, a capital surplus tells you journal entry for reserves and surplus much of the shareholders equity different types of reserves surplus... Record the expense tax liability before the inventory is actually written off, so the expense that management. Marks ) ( may 2018 ) Answer: journal Entries more such equity reserves dividend! Than taxable profit, create deferred tax liability 100 journal entry for reserves and surplus a new for future activities separate the retained earnings to! Estimate and record in the account to record at cost earmarks them for specific purposes like buying fixed can... Into play in this browser for the unexpected obligation existing business of industrial chemical industries now... Paid-In capital. `` making a profit continuously earnings to general reserves only when they are recorded as owner equity! That require to be credited is higher so the expense settlements, debts repayments, payment of dividends etc easy!
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