Profit is a asset or liability to the company....? If is it a asset or
liability....how it is....?
- 2 Answers
- 6339 Views
- ACC, Xerox, I also Faced
- E-Mail Answers
Answer Posted / raghu.v.
if its Profit,
Profit loss a/c Dr
Capital Cr
Its means profit is liability to the co.
if Loss,
Capital Dr
Profit loss a/c Cr
Its means Loss is assets to the co.
| Is This Answer Correct ? | 7 Yes | 0 No |
Post New Answer View All Answers
What is Provision for expenses?
the total of a firm id a rs.6.4 lakh.he has gross profit margin 15% curre ratio of rs.2.5 the firm current libility is rs.96000,inventry, rs.48000 and cash rs 16000. determine the average inventry of firm iss 5 times determine the avg collectin period of opening balance.
who introduces the single entry format?
closing stock at the end is comprised of %a purchase price of $60000,10% discount and 15% import duty.The stock can be sold for $70000 after incurring costs of $1950.Included in the purchase price is abnormal wastage of $2000.Transportation costs are $1000 and storage costs are $500,what is the value of the closing stock?
income from depreciated asset is profit or loss?
What is the content of purchase order? n content of voucher? what is the main use of voucher.
What will be entry pass in tally if TDS paid by Credit Card.?
difference between office expense and miscelleanous expense with some examples
Expand---------PDBC
What is Merger?
what is meant by cash purchase?
Examples of automatic generated content material of car logbook loans?
Took goods from the shop for use at home. state whether the the following transcation is business transcation or non business transcation? with reson or explaination?
What do you mean by Adjustment
We are working as Merchant Exporter. My Question is can we Sale the products against 'H' Form to the Exporter after purchasing the material against 'C' Form? Or only Manufacturer can make sale against 'H' Form.
