Question

net profilt is shown on the side of the profit and loss account?​

Answer 1

Explanation:

The profit or net income belongs to the owner of a sole proprietorship or to the stockholders of a corporation. ... The liabilities and owner's equity (or stockholders' equity) are presented on the right side or credit side.

Answer 2

ANSWER

The profit or net income belongs to the owner of a sole proprietorship or to the stockholders of a corporation. If a company prepares its balance sheet in the account form, it means that the assets are presented on the left side or debit side.