Question

a excess of debit over credit in the profit and loss account represents the_________​

Answer 1

❣️Hi❣️

here is your answer=>

If the debit balance is higher than the credit balance on the income statement, the debit minus the credit represents a loss of profit for the set time period. If the credit balance is higher than the debit balance on the income statement, the credit minus the debit represents a profit for the set time period.

‼️I hope it will help u ‼️