how to treat profit from the p&L A/c
Menu
Profit
Replies (7)
transfer it to Reserves & surplus in case of company
& In capital Account in case of Partnership firm OR propreiotr ship concern.
in case of proprietarship - directly transferr to capital ac.
in case partner- firstly t/f to p and l appropriation ac. for distributing salary and interest to partners
in case of the co. - transffer to reserve and surplus ac.
AGREE WITH FUTURE CA
agree with future ca,
for company, profit can be retained in p&l a/c itself.
agree with future CA
AGREE WITH FUTURE CA.
| Originally posted by : future ca | ||
 |
in case of proprietarship - directly transferr to capital ac. in case partner- firstly t/f to p and l appropriation ac. for distributing salary and interest to partners in case of the co. - transffer to reserve and surplus ac. |
 |
Recent Topics :
- APPLICABILITY AND BREAKDOWN OF GST COMPLIANCE ON S
- Advance for supply of goods
- Question for members: how do you manage client doc
- Clarification Required on Invoicing and Receipt of
- SEBI Registered VS NSDL Registered RTA
- Income tax or capital gain tax for Resident Indivi
- PCIT-1 Thane Email address
- CA Fees deduction for non audit case allowed?
- 5th Letter PAN Mismatch with Surname issues still
- Criteria to hire an article
Related Topics :
CAclubindia
