why the debit balane of p&l a/c shows in asset side of
balancesheet
Answer Posted / gupta
Profit and loss account nature is Nominal Account.As per
Nominal account rule we have to debit all expenses and
losses and we have to credit all incomes and gains.Therefore
loss is a outcum of Profit and loss account i.e. its nature
is Nominal account.Therefore it will have debit Balance and
all debit balances will go Assets side of balancesheet.
Is This Answer Correct ? | 14 Yes | 5 No |
Post New Answer View All Answers
Expand BEMS
WHAT TYPES OF ESSAYS ARE GIVING IN BANK OF AMERICA? CAN ANY ONE HELP ME
Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000
with out college degree con't we dc accounting job?
what is the process to return sales tax file?how can i prepared s.t. file?what should be qualification for it?
You are given the following information in respect of a company: Fixed cost –Rs.13,000 Variable cost –Rs.14,000 Net profit –Rs.3,000 Net sales-Rs.30,000 Find out: a>BEP b>The profit for sales volume of Rs.50,000 c>The volume of sales to make a profit of Rs.10,000
In sales what rule applicable
How Frequently shall a company file the service tax returns and how frequently shall a company pay the service tax to the Government ?
i have one question.when using fbra for reset clearing,message exchange rate different was posted and i have do reversalon the same time using fb08 but unfortunately i' m not authorize to use this transaction.my collegue only have.so how should i do.please advise
Dear sir,i have completed M.sc,MBA.STILL I AM NOT GETTING WELL POSITION .I THINK ON LOW BUGET ON COURSE TO IMPROVE MY POSITION IN FINANCE FIELD.
Hi, I would like to check if my understanding is correct I have a negative amount for provision of income tax in my balance sheet from my previous financial year.What are the accounting treatments for income tax paid and then refunded to you for the current year? Is this correct? For payment Dr provision of income tax cr bank For tax refund Cr provision of income tax Dr bank Do I need to input anything in income tax expense acct?
What is the important of cash in a business unit
EXPAND___________NBFCS
How i pass the share holders capital entry in Tally? How to set this option in Tally?
What Settlement details are required on the delivery instruction slip?