THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN
OF BALANCE SHEET
Answer Posted / ashrita
Debit balance in the p&la/c shows net loss i.e income is
less than expenses,if it is a credit balance then it is
profit.hence we usually subtract it from capitala/c
Is This Answer Correct ? | 10 Yes | 6 No |
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