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Profit is a asset or liability to the company....? If is it a asset or
liability....how it is....?

Question Posted / babhu.k

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Profit is a asset or liability to the company....? If is it a asset or liability....how it is....?..

Answer / 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

Profit is a asset or liability to the company....? If is it a asset or liability....how it is....?..

Answer / babhu.k

Profit is a liability.......

Is This Answer Correct ?    7 Yes 4 No

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