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How to calculate opening Balance of Profit and loss account

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How to calculate opening Balance of Profit and loss account..

Answer / nitin

The gross profit wich we get from the trading account is can be the opening balance for P&L a/c. the opening balance for trading account can calculated by adding all trad expenses and gross profit minus closing stock.

Is This Answer Correct ?    33 Yes 6 No

How to calculate opening Balance of Profit and loss account..

Answer / meenakshi

gross profit or gross loss of the trading account is known
as opening balance of profit and loss account

Is This Answer Correct ?    6 Yes 3 No

How to calculate opening Balance of Profit and loss account..

Answer / shanakr

we can find the Opening Balance of Profit & Loss Account in Balance Sheet as Reserves & Surplus.

Is This Answer Correct ?    1 Yes 3 No

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