How to settle loss
sagar (Accountant) (20 Points)
05 January 2021
how to pass entry of previous year loss in current financial year
Spurto Consultancy Services
(Consultant)
(1891 Points)
Replied 05 January 2021
If you are talking about Previous year P/L balance entry to be made the pass the following:
Reserve & Surplus Account/Capital Account Dr.
To Profit & Loss A/c
sagar
(Accountant)
(20 Points)
Replied 06 January 2021
Dera sir/madam
if partnership firm is having loss of 75000 in f. y 18-19 and there are three partners and want to take benifit in income tax in f. y. 2019-20 what are the entry to be done in accounting software and where to show in b/s or in p/l in current yaer
Krishna Chaudhary
(Accountant)
(4531 Points)
Replied 08 January 2021
sagar
(Accountant)
(20 Points)
Replied 08 January 2021
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