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The Loss of Profit & Loss A/C Where It is Shown in Balance
Sheet Liability or Assets Why ?
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Answer / ca sanjay agrawal
The loss of profit & loss account are being shown under
Assets side of Balance Sheet. This is because, when the
entity will come in profit, it will be recoverable from the
profit of the Profit & Loss Account. Its nature is
recoverable thats why it is shown as assets of the entity.
| Is This Answer Correct ? | 9 Yes | 3 No |
Answer / k.senthil
loss of profit & Loss /c shown in the assets side, This
amount receivable or responsibility from share holders or
partners, proprietor for company this is asset, when make
the profit that time adjusted their accounts. if company
make profit, company payable to all above person so that is
liability of the company
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / sujesh
P&L a/c should be on liability side in case of loss it will come to assets side.
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / thirukkannan
the profit and loss a/c the net profit add to liability side
the loss mean go to apposite side that is assets side
| Is This Answer Correct ? | 3 Yes | 2 No |
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