Profit & loss a/c is debit bal. or credit bal?
SUBIR KUNDU (Accountant) (32 Points)
23 March 2017
profit & Loss A/c is Debit bal. or Credit bal?
SUBIR KUNDU (Accountant) (32 Points)
23 March 2017
Devadas K S
(One life one Dream)
(3525 Points)
Replied 23 March 2017
can have both balances..bot not at the same time..
that is why either PROFIT or LOSS..
When P/L is DEBIT Balance it is a LOSS and vice versa.
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