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P&L

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 October 2010 i just wanted to know why do we transfer the profit on sale of any asset in profit and loss account...because this is a capital receipt and p&l is a revenue a/c.....i m confused i want clarity with regards to p&l account
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
09 October 2010 Since it is loss or gain in nature so we are trasnfer to profit & loss a/c
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Querist : Anonymous

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Querist : Anonymous (Querist)
09 October 2010 so don't we look at the nature of the loss or gain??because profit & loss account is generally related to the revenue related activities of the business...
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