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What is the journal entry for profit transfer from profit and loss account to balance sheet?
Wiki User
∙ 9y ago
Debit profit and loss account
Credit owners capital
Wiki User
∙ 9y ago
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What is journal entry of closing stock?
it s transfer to profit and loss account.
Transfer of net profit to capital account in tally 9?
profit or loss alc dr to capital alc.... enter in journal
What is debit balance of profit and loss account?
Debit balance of Profit & Loss Account represents "Loss"
How do you put the payroll on a balance sheet?
Payroll expenses account goes to Profit & Loss account while Payroll payable is a Balance Sheet Liability item... Journal entry:Payroll Expense Account - DR ...........(P&L)Payroll Payable Account - CR ............(B/S)
What is the journal entry to close the income summary account when a profit is shown?
debit profit and losscredit owners capital account
About projected balance sheet and profit and loss account?
how to prepare the forecast report of profit and loss account with balancesheet
Can a dormant account be closed and balance transferred to Profit loss account?
Can_a_dormant_account_be_closed_and_balance_transferred_to_Profit_loss_account
Is profit and loss account given in trial balance a liability?
no
What is the journal entry of provision for bad and doubtful debts?
Provision for bad and doubtful debt is not go to profit and loss account, and it is go to balance sheet.
How the make profit and loss account and balance sheet in tally?
hai
What are journal entries for sale of vehicle for non profit?
debit cash / bankcredit vehicle account
Is additional capital will enter in the profit and loss appropriation account?
Additional capital is shown under capital account of balance sheet and not shown in profit and loss appropriation account.
