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A credit balance on a profit and loss statement typically indicates that a company has generated more revenue than expenses during a specific period, resulting in a net profit. This surplus reflects the financial health of the business, suggesting it is operating efficiently and effectively generating income. Conversely, a debit balance would indicate a net loss, where expenses exceed revenues. Understanding these balances helps stakeholders assess the company's performance and make informed decisions.
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What You Mean Showing Debit Balance in Sales?
sales generally have credit balance .debit balance of sales would mean that a firm is incurring loss on sales
What do you mean by debit and credit in tally?
A credit and debit tally is the total of the credits and debits, separately. The difference between the totals is the net profit or loss.
What does it mean to transfer credit card balance?
To transfer a credit card balance means to use the available credit on one credit card to pay off the balance of another credit card. This is often done by credit card holders to pay back a balance at a lower rate.
What does a credit balance on partner's current account mean?
current liability
What does a negative number on a balance mean?
There is a credit due back as a refund.
What do you mean by credit balance in profit and loss Ac?
credit balance in profit and loss a/c is loss
What You Mean Showing Debit Balance in Sales?
sales generally have credit balance .debit balance of sales would mean that a firm is incurring loss on sales
What do you mean by debit and credit in tally?
A credit and debit tally is the total of the credits and debits, separately. The difference between the totals is the net profit or loss.
What does it mean to have a a negative profit?
A loss
What does P and L mean?
P&L is an industry abbreviation for profit and loss, as in "charged off to profit and loss". For the purposes of a consumer reading their credit report; it is the same as a collection, charge off, or write off. Many credit granting companies have their own collection and charge off departments. Once a debt is no longer being paid as agreed by a consumer, most companies will attempt some form of collection. At a certain point, not willing to keep bad debts on their books, they simply "write off" or "charge off" the bad debt on their profit and loss figures. They have written the debt off, so it may even show as a zero balance on your credit report. However, the consumer is still responsible for any deficiency balance owing on a P&L account.
What does business income mean?
The earning generated by way of profit, selling of property, commision or any other form by the company can be called as business income and is reflected in the Profit & Loss A/c and Balance Sheet of the company.
What does it mean to transfer credit card balance?
To transfer a credit card balance means to use the available credit on one credit card to pay off the balance of another credit card. This is often done by credit card holders to pay back a balance at a lower rate.
What do you mean by finance function?
Finance function is the function which determines and brings the future financial resources need for the company from different sources like banks and financial institutions such as profit and loss account balance sheet and trial balance
What is it called when you have more expense than profit?
It's not called anything. If by profit you mean revenues. Then it is called a loss.
What does a negative number on a balance mean?
There is a credit due back as a refund.
What does a credit balance on partner's current account mean?
current liability
Reginald's credit card statement states that his balance is 550 What does the term balance mean?
The 'balance' of his statement is the monetary value of his account with the credit card company. In this case it is the amount he owes the company.
