Why expenses and Losses Dr and Income and profit cr in Profit and Loss account shown
This query is : Resolved
02 February 2025
Expenses or Losses -Dr side
Profits and Gains-Cr side in profit and Loss accounts shown.
Profits and Gains-Cr side in profit and Loss accounts shown.
CA R SEETHARAMAN
(Expert)
03 February 2025
It's as per golden rules of accounting.
Debit all expenses and losses, credit all incomes and gains:
Debit all expenses and losses, credit all incomes and gains:
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