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THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN
OF BALANCE SHEET
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Answer Posted / sagnik das
DEBIT BALACE OF P/L A/C MEANS : IN P/L A/C, DEBIT SIDE IS
HEAVIER THAN CREDIT SIDE.AS-DEBIT SIDE REPRESENTS THE
EXPENSES AND CREDIT SIDE REPRESENTS THE INCOMES,THEN IN
THIS SITUATION EXPENSES IS HEAVIER THAN INCOME.AND THIS IS
ABSOLUTELY CALLED AS LOSS.
AND THIS LOSS IS POSTED IN THE ASSET SIDE OF THE BALANCE
SHEET.
(REMEMBER: PROFIT IS A LIABILITY TO BUSINESS.AS IT IS TO BE
RETURNED TO SHARE HOLDERS.IN "BUSINESS ENTITY CONCEPT" IF A
BUSINESS OWES SHARE HOLDERS FOR PROFIT AS SHARE HOLDERS ARE
TREATED AS OUTSIDE AND SEPARATE ENTITY OF BUSINESS.
IN VIS A VIS LOSS IS TREATED AS ASSET.AND IT IS SHOWN IN
THE ASSET COLUMN OF THE BALANCE SHEET.)
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