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THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN
OF BALANCE SHEET

Answers were Sorted based on User's Feedback



THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN OF BALANCE SHEET..

Answer / anil karayil

The Debit Balance of the P&L A/c Means the firm has made a
Net Loss. This balance can be shown In the Asset Side of
the balance sheet under the head Revenue Expenditure or can
be shown in the liability side Deducting from Reserves and
Surplus.

Is This Answer Correct ?    3 Yes 0 No

THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN OF BALANCE SHEET..

Answer / manoj

It is shown in the balance sheet of liabilities a/c. If it
is profit it is added to capital of liabilities and it loss
it is decucted from capital a/c.

Is This Answer Correct ?    3 Yes 0 No

THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN OF BALANCE SHEET..

Answer / manik

pehli baat tum sab ek number ke paagal ho....... dusri baat it is shown on asset side because dr balance implies loss and not profit!!!!!!!!!! and when loss is incurred the owners become liable to pay to the company due to different entity concept i.e owner is different from company.
thank you all
and i m sure that im right

Is This Answer Correct ?    3 Yes 0 No

THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN OF BALANCE SHEET..

Answer / s.sivaprasad.mba.,

Assets Side under Mislanious Expenditure, why because it is
a Loss.

Is This Answer Correct ?    2 Yes 0 No

THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN OF BALANCE SHEET..

Answer / suman kanti dutta

Debit balance of profit & loss a/c means loss i.e excess of
expenditure over income. It should come assets side of the
balance sheet or in liabilities side it should be less from
capital A/C.

Is This Answer Correct ?    3 Yes 1 No

THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN OF BALANCE SHEET..

Answer / vijay gawalkar

Always the Debit Balance of P&L A/c. Should be shown under
the Head "Reserve and Surplus" on the Liabilites side. For
more details you can check Schedule VI of Companies Act
1956.

Is This Answer Correct ?    29 Yes 28 No

THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN OF BALANCE SHEET..

Answer / prakash pratapram mauriya

The debit balance of the p&l A/C showes in liablities side
under the head of reserve and surpluses according to mumbai
university sylabus otherwise wye wrong interpritaion they
give to the students if debit balance of P&l A/C is
negative then it will be shown in the blance sheet of
assets side otherwise it will be deducted under the heads
of reserves and surpluses

Is This Answer Correct ?    1 Yes 0 No

THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN OF BALANCE SHEET..

Answer / crr

It is shown on the asset side of the balance sheet in case
of companies and deducted from partner's capital in firms
and prop. concerns. In partnership concerns, it can also
be shown on the asset side, if the current account of the
partners is sshowing debit balance.
CRR

Is This Answer Correct ?    1 Yes 0 No

THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN OF BALANCE SHEET..

Answer / amrita

The Debit balance of P&L a/c means in profit & Loss a/c
Debitside i.e. expense side is heavier so its loss and
obviously, it would appear under asser side.

Is This Answer Correct ?    3 Yes 2 No

THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN OF BALANCE SHEET..

Answer / subash.karvy

The debit balance of the P&L A/C is called net profit It shows an liability side of balance sheet & added to the capital(net profit is always Reserves)

Is This Answer Correct ?    2 Yes 1 No

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