Where is Profit and Loss posted in a balance sheet?
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Answer / kiran
IF PROFIT THEN SHOW LIABILITIES SIDE AND IF LOSS THEN SHOW
ASSETS SIDE.
| Is This Answer Correct ? | 111 Yes | 28 No |
Answer / sadiq
If there is net profit then it is added back to the capital on
liability side and if loss it will be deducted.
| Is This Answer Correct ? | 74 Yes | 5 No |
Answer / bharat
If profit then we show liability side if loss then we show
the assets side.
| Is This Answer Correct ? | 30 Yes | 6 No |
Answer / sunil singh
because capital is shown in liability side in balance sheet and if their is net profit it is added back in capital so it came on liability side of bl.
| Is This Answer Correct ? | 21 Yes | 5 No |
Answer / susheel pandita
if there is a profit it can added to the capital show on
liability side in p&l a/c and if loss then it can deduct on
capital show on asset side in p&l a/c.
| Is This Answer Correct ? | 12 Yes | 2 No |
Answer / shashi
now under revised sch vi if profit then show it in liability
side and if loss then adjust it from reserve and surplus
| Is This Answer Correct ? | 7 Yes | 1 No |
If the company earns profit then P&L A/c will appear in the liability side of the Balance sheet under the heading Reserves & Surplus.
if the company incurs loss the P&L A/c will appear in the Assets side of the Balance sheet under the last heading Miscellaneous expenditure.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / guest
if loss has occur in business so it show in liabilities side
of balance sheet but if profit has occurred so it will show in
asset side of balance sheet.
| Is This Answer Correct ? | 19 Yes | 57 No |
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