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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1914)
 Accounting General interview questions  Accounting General Interview Questions (2841)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4373)
Question
THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN 
OF BALANCE SHEET
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 11
DEBITE BALANCE OF P&L A/C WILL BE 'NET LOSS' & HENCE IT
WILL BE SHOWN ON ASSET SIDE OF BALANCESHEET UNDER THE HEAD
MISCELLENEOUS EXPENDITURE.
 
Is This Answer Correct ?    11 Yes 6 No
Trupti
 
Answer
# 12
Actully there are menny types of methods.
The debit balance of the P&L A/c it means loss there are
two way to show the loss to the balance sheet.
1) Deducte from Capital
2) show to the Asset side of the Balance Sheet
 
Is This Answer Correct ?    7 Yes 2 No
Vijay
 
Answer
# 13
It is shown in liblities side. 
Is This Answer Correct ?    35 Yes 31 No
Tushar
 
Answer
# 14
Debit balance in the p&la/c shows net loss i.e income is
less than expenses,if it is a credit balance then it is
profit.hence we usually subtract it from capitala/c
 
Is This Answer Correct ?    10 Yes 6 No
Ashrita
 
Answer
# 15
in the liabilities side:- Show here the debit balance of
profit and loss account carried forward after deduction of
the uncommitted reserves, if any
in the Assets side:- Other Reserves specifying the nature
of each Reserve and the amount in respect thereof Less:
Debit balance in profit and loss account
(The debit balance in the Profit and Loss Account shall be
shown as a deduction from the uncommitted reserves)
 
Is This Answer Correct ?    4 Yes 0 No
Manjunath
 
Answer
# 16
The Debit Balance of the P/L A/c simply means excess of
Expenses over Income. When the expenses are more that
income, that gives Loss.

Loss is a claim revoverable by the business from the
shareholders, which means it is asset of the business and
will come in the Asset side of Balance Sheet.
 
Is This Answer Correct ?    4 Yes 0 No
Mahindra Timsina
 
Answer
# 17
Debit balance of P&L account will be shoen in the B?S at
the same column only as "Net loss",
by deducting from capital, if it is net profit addding to
the capital.
 
Is This Answer Correct ?    3 Yes 0 No
Vijayranga
 
Answer
# 18
Always the Debit Balance of P&L A/c. Should be shown under
the Head "Reserve and Surplus" on the Liabilites side. For
more details you can check Schedule VI of Companies Act
1956.
 
Is This Answer Correct ?    29 Yes 27 No
Vijay Gawalkar
 
Answer
# 19
THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IT CALLED AS THE
REVENUE EXPENDITURE AND THE SAME WILL BE SHOWN IN THE
ASSETS SIDE OF THE BALANCE SHEET IT WILL BE TREATED AS
REVENUE RECEIPT's. so in this the debit balance of the p&l
a/c is shown in the balance shee that is in assets side.


MBA(FRESHER)2008
THIS IS NOT MY OWN ANSWER THIS AS PER INDIAN GAAP EVERY
ONE CAN SEARCH IT!
 
Is This Answer Correct ?    4 Yes 2 No
Shaik Nizamuddin(mba Finance)
 
Answer
# 20
The credit balance of P& L means the excess of revenue
minus overheads.If so the balance will be placed under
Liabilities side.The question is Debit balance of P & L.It
is excess of overheads over revenue called as loss.It will
be placed under assets side
 
Is This Answer Correct ?    2 Yes 0 No
Satyaki_raju@yahoo.com
 

 
 
 
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