Illustration 3

Accountancy

The profit and loss account balance in trial balance - what does it exactly mean sir? In previous illustrations we took it as opening balance , in this illustration you are saying it is the balance after all adjustments.. Since there is no P&L items given in question are we assuming it as the profit for the year? [Video Time Stamp: 01:24] Video Details ------------- P1 - Advanced Accounting - Without AS Preparation of Financial Statements #18. Illustration 3

Ajay Kumar

CA Foundation

★ 1K+

23-Sep-25 10:21

156

Answers (4)

Since no PL items are given, it is a trial balance after preparing PL.

CA Suraj Lakhotia

Admin

23-Sep-25 10:27

You can also assume it as opening plus profit during the year.

CA Suraj Lakhotia

Admin

23-Sep-25 10:28

ok sir thank you

Thread Starter

Ajay Kumar

CA Foundation

★ 1K+

23-Sep-25 12:12

Pls update your profile to CA Inter.

CA Suraj Lakhotia

Admin

23-Sep-25 12:23