why profit and loss account debit balance appeare in the asset side of balance sheet?
Answer Posted / amalraj
According to the balance sheet all debit balance should be appeared in assets side and all credit balance will appeared in liability side of the balance sheet.
Is This Answer Correct ? | 85 Yes | 18 No |
Post New Answer View All Answers
What qualification do you need to become an accounting professional?
Explain how you can adjust entries into account?
Is push down accounting accepted under generally accepted accounting standards?
what stock transfer applicable in sister concern unit.
What are the differences between contrast bookkeeping and accounting
What are the effects when intangibles and tangible assests decrease
Cost Accounting
sir i am working in construction company.we have more than one projects.i enter the attendance projectwise in payroll.if payroll autofill i want project wise salaries not overall
Is it possible to change the accounting period under Indian GAAP from 1/Apr-31March to 1/January-31/December? There is any restriction in doing that, i mean for example for fisal purposes? Thank you all!
Tell us do you possess any knowledge about accounting standards?
Entries to revenues accounts such as service revenues are usually?
How much statistics knowledge is necessary or required in accounting?
what is a corporate chart of accounts and its purpose?
What is meant by partitioning?
what is the amount withdrawlfrom other cbs branch by multicity chequ book.