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net profit

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(Querist)
07 January 2010 one person ask for me,why netprofit also showing current liabilties,please give me reply
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
07 January 2010 I am not getting you question, Net profit how it is coming current liabilities, as per Schdule VI it is coming under Reserves & Surplus
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Madhanagopal

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Madhanagopal (Querist)
08 January 2010 thanks for your reply
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
08 January 2010 when you prepare profit & loss a/c if your company doing profit then it will be in profit & loss a/c as reserves & surplus which you have to transfered in balance sheet and also your profit/surplus will be added to your capital ok and capital is on your liabilities side.so thats why you have been asking for that que.
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CA Manasa

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CA Manasa (Expert)
08 January 2010 Yes Agree with Murtaza ..
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