What does mean is Profit & Loss Account Shows Debit Balance in
Trail Balance ?
Answer Posted / h.r. sreepada bhagi
Debit balance in the Profit & Loss A/c appearing in the
Trial Balance is the Loss brought forward from the previous
accounting period. This amount should have appeared in the
Balance Sheet at the end of the immediate preceding
accounting year.
Is This Answer Correct ? | 15 Yes | 2 No |
Post New Answer View All Answers
pls. tell me with detail (what is the rate of service tax and w.c.t. for a contractor who do civil work -make building and repairing. what is the format of generate a bill for (with material and labour both ) what entry should i pass in my accounts bokks. general and sales entry.
if no production is take place at the start of a process in royalty accounting what will be the accounting procedure for that.
How is the accounting for hire purchase transactions done?
What is the use of accounting?
A loan of 10000 with 10% interest is fully due after 6 month. What will accrue differed, outstanding?
Entry for revenue item will be Expenses A/C Dr to Cash. But in the Profit and Loss account we will see the expenses with a pre fix of To Expenses Why?
What is deferred account?
What is Bank Reconciliation Statement? How to calliculate in tally erp9.0?
Please advise how to calculate net asset....
Define and distinguish between flexible and floating exchange rate system. What kind of exchange rate system does china have?
GRIR is the clearing account so it the balance will be zero, so how it will impact with balance sheet and why we require to reconcile that account ?
i am indrani,iam siting for a/c assistance post of muthoot finance..so my question is what kind of question they may ask related to a/c or finance?or other than subject what question can be asked like why do u want to join this co etc.. ?
Can you tell me entry tax will be applicable on Spectacles purchase from u s a
what is a difference between public and private accounting?
what is balance sheet, capital budgeting, financial statements, current ratio, profit maximization?