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why we are considering the net profit as liable in balance
sheet
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Answer Posted / ankesh gupta
Because in accounts we separately treat enterpreneur and
business.net profit is earned by business and then its
becomes liability of the business to pass it on to
enterpreneur.so net profit is added to capital of the
business.
by ankesh gupta
email id:- gupta_ankesh@rediffmail.com
any adition or alteration will be highly appreciated.
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The following are the list of Balances of SUNSHINE Company as at 1.2.2012 RM Land and building 450,000. Furniture and Fittings 35,000. Office Equipment 25,000. Motor Vehicles 75,000. Inventory 5,000. Trade Receivables 12,000. Trade Payables 8,000. Bank Loan 200,000. Bank 13,000. Cash in Hand 1,000. Capital 408,000.
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