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treatment of P&L A/c 's balance in trial balance and
balancesheet
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Answer Posted / satyaki_raju@yahoo.com
Mr Ajay Pratap I think the question put by sri Srijith to
create a confusion among the answer postors. We will
prepare the Trial balance after balancing the ledgers. It
is the process prior to the preparation of Final accounts
like Profit and Loss account and balance Sheet.The nett
result will be known to us only after preparing Profit and
Loss account statement.The profit or Loss will be
apportioned among the partners or put aside under reserves
and surplus and will be placed under sub group of capital
account.But you created a honourable post and suggested a
place in Trial balance also. Think well before you answer
| Is This Answer Correct ? | 5 Yes | 1 No |
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