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What is meant by P&L Dr balance. Can u explain expandedly? Normal profit will have what balance either debit or credit?


surya prakash

surya prakash

CA Inter

1K+

13-Jun-20

139

Answers (2)

Debit blnce  in the PL means  a company is in LOSS. This in turn reduces the retained earnings and it is accounted for in the capital account  of a company. PROFIT will have cr balance in PL


Divya K

Divya K

CA Inter

885

15-Jun-20

Profit & loss account includes both profits and losses, if the net effect is profit then its credit balance, if the net effect is loss then P&L a/c is a debit balance.


sudha reddy

sudha reddy

Moderator

15-Jun-20

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