P&L A/C DEBIT BALANCE MEANS PROFIT AND CREDIT BALANCE MEANS LOSS WE SH

why profit and loss account debit balance appeare in the asset side of balance sheet?

Question Posted / ranjith baswaraj

Answer Posted / ranjith baswaraj

P&L A/C DEBIT BALANCE MEANS PROFIT AND CREDIT BALANCE MEANS
LOSS WE SHOULD ALWAYS SHOW THE PROFIT TO ASSETS SIDE AND
LOSS TO THE LIABILITIES SIDE

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