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Loss from p&l

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 November 2015 why does the loss from p&l goes to asset side of balance sheet?
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praveen

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praveen (Expert)
06 November 2015 Loss means the business has lot money. That money is receivable from the owners hence it is shown as asset.. For more information and details Http://tinyurl.Com/stcompliance
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Amol S Joglekar

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Amol S Joglekar (Expert)
06 November 2015 Asset side represents the accounts having DEBIT balance.
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