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Profit will add with capital and loss will deduct from it.

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13y ago

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Do provisions for loan loss go in the balance sheet or profit and loss?

Profit and Loss.


What are the main features of a balance sheet?

The main parts of a balance sheet are profit, loss and inventory.


Where is Profit and Loss post in balance sheet?

In case of profit Liability side. In case of loss Asset side.


What are the reason where the balance sheet will not tally?

Balance sheet is the summary of Assets ,Liabalities , and profit or loss from Profit and loss account. following are the common reasons 1.As Purely based on nduble entry system For each ledger debits there should a equlent ledger credit on all transactions. 2. We can divide ledgers into Balance sheet items and Profil and loss account items. Balance sheet ledgers are ledger balances which directly reflects in Balance sheet Profit and Loss ledgers are ledgers which is reflecting only in Profit and loss account not in balance sheet. 3. Check the opening balance sheet, difference in opening balance sheet may the reason.


The balance sheet of a firm shows?

profit or loss for the period


About projected balance sheet and profit and loss account?

how to prepare the forecast report of profit and loss account with balancesheet


What is the journal entry for profit transfer from profit and loss account to balance sheet?

Debit profit and loss accountCredit owners capital


Where are surplus shown in balance sheet?

With non-profit organisations, when the balance sheet doesn't show a loss, but what would be classified a profit for profit organisations, it is called a surplus. When it is what would be considered a loss for profit organisations, it is called a deficit.


Where does bank go in a trading profit and loss account or balance sheet?

Well salaries payable is liability of an organization . This is a current liabilities so they are posted in capital and liability side of a balance sheet.


How the make profit and loss account and balance sheet in tally?

hai


Three main sectons of a balance sheet?

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Why does companies show net loss in balance sheet?

Same like net profit shown in balance sheet net loss is also shown in balance sheet because net profit or net loss both are part of equity of the owner and to show the net effect of fiscal year;s performance with previous performance it is shown in balance sheet.