why the debit balane of p&l a/c shows in asset side of
balancesheet
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Answer Posted / bhupinder s
it is because
debit bal of P&L shows loss
profit in liability shows tht company is liable to pay the profit amt to shareholders
and
P&L(loss) in asset side shows that shareholders are liable to pay the company
refer: company and shareholders are diff entities
| Is This Answer Correct ? | 51 Yes | 7 No |
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