At the end of year, after the closing of Profit & Loss account, where will be balance of it transfered ?
A. To Trading A/c
B. To Bank A/c
C. To Suspense A/c
D. To Balance sheet
Answer:D
At the end of year, after the closing of Profit & Loss account, where will be balance of it transfered ?
A. To Trading A/c B. To Bank A/c C. To Suspense A/c D. To Balance sheet