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Where is Profit and Loss posted in a balance sheet?
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Answer Posted / bharat
If profit then we show liability side if loss then we show
the assets side.
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shyam consigned 200000 unit @ rs 5/-each to mr ram and paid freight and insurance amounting to rs 100000.ram spent further following amount: 1) insurance rs 5000 2) godown rent rs 4000 3) clearing rs 6000 2000 unit were damages during transits due to heavy rains. Ram sold 100000 unit @rs 10 per unit . ram realisec solvage value of damage unit rs .2000 ram is get 5% commission on sale determine the abnormal loss?
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