Profit and loss come in trial balance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 October 2014
whether profit or loss come to trial balance.
15 October 2014
Yes profit after rax is carried forward in Balance Sheet under Reverse & Surplus.
CA R SEETHARAMAN
(Expert)
16 October 2014
Profit or loss will not come in trial balance it will come only in profit and loss account and carried over profit or loss in balance sheet.
Vishnu Saboo
(Expert)
22 October 2014
Profit or loss is difference of Earning and Expenses during accounting period.
it depends on software configuration that whether it will be shown in Trial or not.
it depends on software configuration that whether it will be shown in Trial or not.
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