The Loss of Profit & Loss A/C Where It is Shown in Balance
Sheet Liability or Assets Why ?

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The Loss of Profit & Loss A/C Where It is Shown in Balance Sheet Liability or Assets Why ?..

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

The Loss of Profit & Loss A/C Where It is Shown in Balance Sheet Liability or Assets Why ?..

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

The Loss of Profit & Loss A/C Where It is Shown in Balance Sheet Liability or Assets Why ?..

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

The Loss of Profit & Loss A/C Where It is Shown in Balance Sheet Liability or Assets Why ?..

Answer / prageeth

Definitely on the Asset side.

Is This Answer Correct ?    2 Yes 0 No

The Loss of Profit & Loss A/C Where It is Shown in Balance Sheet Liability or Assets Why ?..

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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