previous year ka PL a/c balance is undistributed profit like resarve.so in current year PL cr. bal adds on pl a/c
|
to,PL appro a/c (net profit for this year) |
by,gross profitb/d |
PL appro a/c
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to,BALc/d (this balance shows in current year balancesheet) |
by .bal b/d (opening bal of netprofit means priveous year profit) by,PL a/c (net profit of this year) |
so in short cut is been used in single entry problems
current years np(+/-)PL balance of previous year(Dr./Cr.)
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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