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What does mean is Profit & Loss Account Shows Debit Balance in
Trail Balance ?
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Answer Posted / h.r. sreepada bhagi
Debit balance in the Profit & Loss A/c appearing in the
Trial Balance is the Loss brought forward from the previous
accounting period. This amount should have appeared in the
Balance Sheet at the end of the immediate preceding
accounting year.
| Is This Answer Correct ? | 15 Yes | 2 No |
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