Answer Posted / satyaki_raju@yahoo.com

My dear siva prasad MBA Your answer is not correct. Once
again you try to understand the question.The debit balance
of the P & L means the result of the business. i.e Excess
of revenue over expenses.It is called as profit. Profit
will be placed under Reserves and surplus.Reserves and
surplus has a place in Liabilities side.
Please let me know your your e.mail address i will send you
important paper composed for Accounts and Finance students

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