07 January 2010
I am not getting you question, Net profit how it is coming current liabilities, as per Schdule VI it is coming under Reserves & Surplus
08 January 2010
when you prepare profit & loss a/c if your company doing profit then it will be in profit & loss a/c as reserves & surplus which you have to transfered in balance sheet and also your profit/surplus will be added to your capital ok and capital is on your liabilities side.so thats why you have been asking for that que.
CAclubindia
