Nature of income and expanse
This query is : Resolved
Amit Mittal
(Querist)
12 January 2012
If co. earn profit on sale of Fixed Assest and we treat it as income in Profit and Loss A/c. But it is capital nature . So, it should be shown in Balance sheet. Plz solve my QUERY. It is capital nature or not
15 January 2012
To be shown in balance sheet, Addition under reserves and surplus
Message likes :
1 times
Amit Mittal
(Querist)
16 January 2012
but we treat it as income in profit & loss A/c. why or when we treat it in profit & loss a/c
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