Debit Balance of Profit & Loss Statement will be shown on:
A. Assets Side of Balance Sheet
B. Liabilities Side of Balance Sheet
C. Under the head Reserve & Surplus
D. Under the head Reserves and Surplus as a negative item
Answer:D
Debit Balance of Profit & Loss Statement will be shown on:
A. Assets Side of Balance Sheet B. Liabilities Side of Balance Sheet C. Under the head Reserve & Surplus D. Under the head Reserves and Surplus as a negative item