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why profits are shown as liability and loss as asset in
balance sheet?
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Answer / giri
Profits are liability for the company because shareholders
are having the right on those profits. So, it is shown in
the assets sides of B/s. But loss can be shown as the
assets side of the B/s if we can capitalise those losses in
future years or If we are unable to reduce the paid-up
capital as per MOA then we show losses in the asset side.
| Is This Answer Correct ? | 10 Yes | 4 No |
Answer / vimesh
Profit showing as liability side and loss showing in asset
side because in a company's profit should have to paid as a
dividend as their share holders so profit is liability in
company.
| Is This Answer Correct ? | 6 Yes | 0 No |
dear NEHA
if you know the answer than try to share it with others. we are here to share knowledge. i know how difficult these questions when they are asked in any interview. i know you are intelligent and i expect your answer for this quetion.
reply me at namammabali@gmail.com
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / mandar bose
Though Balance sheet consider as a financial statement it
doesnt have debit & credit side. But asset side consider as
debit side & liabilities as credit side.This is not
mentioned in B/S.It is hidden in nature.
| Is This Answer Correct ? | 1 Yes | 9 No |
Answer / neha
I dont know why people ask foolish type questions.
If one learns accounting then there is no need to ask such
type of que.
| Is This Answer Correct ? | 2 Yes | 18 No |
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