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Any amount of surplus from assets given under first charge will be utilised for setting the claims for second chargeholder.Conversion of a Receipt and Payment Account into an Income and Expenditure Account: This essentially involves five steps namely, adjusting the revenue receipts on the debit side to include outstanding incomes and incomes relating to the current year received earlier and to exclude amounts received in arrears or in advance; adjusting revenue payments on the credit side; identifying and showing non-cash expenses and losses on the debit side of the Income and Expenditure Account; computing and showing profits/losses from trading and/or social activities on the credit/debit side of the Income and Expenditure Account; and ascertaining the surplus or deficit as the closing balance of the Income and Expenditure Account.The advantage of such an option is that a company can redeem the debentures at its convenience whenever it has surplus funds.The Debenture Redemption Reserve account appears on the liability side of the Balance sheet under the head “Reserves and Surpluses.It shows the net operating result in the form of surplus (i.e. excess of income over expenditure) or deficit (i.e. excess of expenditure over income), which is transferred to the capital fund shown in the balance sheet.In this way, banks mediate between those who have surplus funds (the depositors) and those who are in need of these funds (the borrowers).Anybody who showed a coated tongue was given a dose of castor oil; anybody with malaria fever received quinine plus castor oil; anybody with skin eruptions received ointment plus castor oil.It shows the net operating result in the form of surplus (i.e. excess of income over expenditure) or deficit (i.e. excess of expenditure over income), which is transferred to the capital fund shown in the balance sheet.Any amount of surplus from assets given under first charge will be utilised for setting the claims for second chargeholder.The amount of premium is credited to Securities Premium account and is shown on the liabilities side of the balance sheet under the head “Reserves and Surpluses”.Small farmers like Savita and Gobind's sons have little surplus wheat because their total production is small and from this a substantial share is kept for their own family needs.The decrease (increase) in official reserves is called the overall balance of payments deficit (surplus).The amount transferred to general reserve or any specific reserve is shown in the appropriation part of the profit and loss account and added to the concerned reserve shown under the heading 'Reserves and Surplus' in the balance sheet.The family in the village sold the surplus in a nearby neighbouring village.Any amount of surplus from assets given under first charge will be utilised for setting the claims for second chargeholder.