THE DEBIT BALANCE OF THE P&L A/C IS SHOWN IN WHICH COLUMN
OF BALANCE SHEET
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Answer Posted / swathy
Hey teja, it comes in Liabilities side which is added to
the reserves and surplus. The logic that debit balance in
p&l a/c being netprofit, hence in assets side is wrong.
The debit balance of P&L a/c i.e., netprofit comes to
balance sheet added to the reserves.
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