why bank accounts are not coming in profit and loss
account ?
Answers were Sorted based on User's Feedback
Answer / m.l.verma
All the Assets either fixed assets or current assets is only
shown in balence sheet not in profit & loss A/c.
Is This Answer Correct ? | 11 Yes | 0 No |
Answer / madhukar
first bank a/c.is coming under current asset which is shown
in balance sheet asset side.
in case of profit & loss a/c. dr side of p&l are coming all
expencess of company or firms and cr side of pl all income
of company sales.
Is This Answer Correct ? | 11 Yes | 0 No |
Answer / amit guleria
Bank may be either asset or liability(Overdrawn)& hence will be shown only in the Balance sheet.
Is This Answer Correct ? | 2 Yes | 0 No |
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