0
edit
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
Is a net loss closed as a debit to owner's capital?
No. It is closed as a credit owner's capital. Chapter 4 on page 217--Closing the accounts.
When does a net loss happen?
When does a net loss occur
What happens when a company has a net loss?
if a company reports a net loss it may still have a net increase in cash
A net loss will result during a time period when?
When expenses exceed revenues a net loss occurs.
Is net loss is greater than gross loss?
No
Is a net loss closed as a debit to owners capital?
Its closed for business
What accounts is closed at the end of the year but does not enter the calculation of net income?
the profit and loss account
Is a net loss closed as a debit to owner's capital?
No. It is closed as a credit owner's capital. Chapter 4 on page 217--Closing the accounts.
Is a gambling loss a net operating loss?
As a casual gambler the gambling loss would not be a net operating loss on your income tax return. If you have a business operation of gambling then you could end up with a net operating loss from your gambling business.
When does a net loss happen?
When does a net loss occur
What is the net gold loss formula?
formula of "Net Gold loss
Which account you in 3 net loss?
The profit and loss account is the account that can be used to calculate the net loss.
What happens when a company has a net loss?
if a company reports a net loss it may still have a net increase in cash
Is net loss a debit or credit?
it is credit P&l Dr TO net loss
A net loss will result during a time period when?
When expenses exceed revenues a net loss occurs.
Is net loss is greater than gross loss?
No
If net income is zero do you have a loss in your business?
Net Income zero means firm has at no profit no loss position and it does not means loss to company.
