closing balance of profit and loss

Accountancy

for the point "profit for the year was Rs. 300000", in the textbook, 300000 is taken as closing balance but here while solving 300000 is added to opening balance to arrive at closing balance. which is the right approach? [Video Time Stamp: 04:16] Video Details ------------- P1 - Advanced Accounting - Without AS Consolidated Financial Statements #41. Illustration 3 - X:Â DOA, Dividend and Journal Entries

Ritu Kotian

CA Inter

★ 19K+

15-Oct-25 10:24

150

Answers (3)

Opening balance is 1,25,000 Profit for the year is 3,00,000 Can you share the textbook page?

CA Suraj Lakhotia

Admin

17-Oct-25 16:57

Here

Attachments

Thread Starter

Ritu Kotian

CA Inter

★ 19K+

17-Oct-25 22:55

300000 is pre acquistion 125 + 175 Coincidentally both numbers are 300. I actually have recorded this today. You will get access to it on Wednesday post diwali

CA Suraj Lakhotia

Admin

17-Oct-25 23:06