Sourav (Student) 21 January 2021
prasad Nilugal (Sr . Accountant and GST Practitioner . ) 21 January 2021
AS per Schedule III - Debit Balance of Profit & Loss account shall be shown as negative figure under " Surplus " . Similarly balance of Reserve & Surplus " after adjusting negative balance of Surplus , if any , Shall be shown under the head " Reserve & Surplus" even if the resulting figure is in the negative .