How to calculate opening Balance of Profit and loss account

Answers were Sorted based on User's Feedback



How to calculate opening Balance of Profit and loss account..

Answer / nitin

The gross profit wich we get from the trading account is can be the opening balance for P&L a/c. the opening balance for trading account can calculated by adding all trad expenses and gross profit minus closing stock.

Is This Answer Correct ?    33 Yes 6 No

How to calculate opening Balance of Profit and loss account..

Answer / meenakshi

gross profit or gross loss of the trading account is known
as opening balance of profit and loss account

Is This Answer Correct ?    6 Yes 3 No

How to calculate opening Balance of Profit and loss account..

Answer / shanakr

we can find the Opening Balance of Profit & Loss Account in Balance Sheet as Reserves & Surplus.

Is This Answer Correct ?    1 Yes 3 No

Post New Answer

More Accounting General Interview Questions

how do we pass the Entry for Reserves? and What is the Meaning of Surplus?

1 Answers  


Please explain subcontracting accounting entries in SAP with realtime example and amount.

1 Answers   IBM,


i, transfer to capital redemption reserve is not allowed from A, GENERAL RESERVE B, PROFIT PRIOR TO INCORPARATION C, RESERVE FUND D, NONE OF THE ABOVE

1 Answers  


Difference Between Economics and Finance

1 Answers   Deloitte,


how to strong my account for long time?

3 Answers  






how to pass entry in tally Rs 50000 cheque paid to son by father

0 Answers  


what is professional tax slab rate ?

2 Answers   DNS,


1. WE RUN A OFFICE IN RENTAL BUILDING, MY QUESTION IS A) I TREAT THE OWNER OF A BUILDING AS CREDITOR AND PASS JOURNAL VOUCHER IN TALLY AT THE END OF THE MONTH (OR)I SIMPLY ACCOUNT THE RENT TO BE PAID AS OUTSTANDING EXPENSES AND AFTER AT THE TIME OF PAYMENT I PUT PAYMENT VOUCHER , PLEASE ADIVICE ANY OTHER OPTION ALSO?

1 Answers  


what is the debtor & creditor, i am purchasing a good then," who is the creditor"

3 Answers  


What is bank reconciliation statement?

15 Answers   Capital IQ,


define accounting?

3 Answers  


Aptitude Test Questions

0 Answers  


Categories