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Treatment of P&L A/c balance(either profit or loss)??
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Answer / abhijeet jain`
Neha ur ans is only partial u have spoken only of the
result n not the treatment which d Q sought to have
asked....coming to d treatment if its a profit it shall be
added to d reserves & suplus on the liabilities side of the
BS and in case of loss it shall be shown on the assets side
under the heading Misc. exps.
| Is This Answer Correct ? | 14 Yes | 4 No |
Answer / neha
Treatment of P & L a/c is totally depend upon its balance.
If the balance is credit then it is a profit & if the
balance is debit then it is a loss.
| Is This Answer Correct ? | 8 Yes | 5 No |
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