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.

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.

Answer / kannan

First of All , P/L A/c consists of Companies income and Expenses. Bank A/c is neither an expenses nor an Income, its like a lnvestment. so it should be shown in assets side of the balance sheet.

Answer / amit guleria

Bank may be either asset or liability(Overdrawn)& hence will be shown only in the Balance sheet.

Transport expense were reimbursed by the supplier Pass journal entry

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Why have you applied to our firm?

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Explain what is bank reconciliation?

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