ALLInterview.com :: Home Page            
 Advertise your Business Here     
Browse  |   Placement Papers  |   Company  |   Code Snippets  |   Certifications  |   Visa Questions
Post Question  |   Post Answer  |   My Panel  |   Search  |   Articles  |   Topics  |   ERRORS new
   Refer this Site  Refer This Site to Your Friends  Site Map  Bookmark this Site  Set it as your HomePage  Contact Us     Login  |  Sign Up                      
Google
   
 
Categories >> Accounting >> Accounting General
 
 


 

 
 Audit interview questions  Audit Interview Questions (427)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1898)
 Accounting General interview questions  Accounting General Interview Questions (2807)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4359)
Question
Distinguish between Profit and Loss Account and Profit and
Loss Appropriation Account.
 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
Profit & Loss A/c is the Income Statement showing Income and
Expenses for a particular Accounting period to arrive at the
Profit earned or Loss incurred.

Where as Profit & Loss Appropriation Account is a statement
showing the utilisation of Profit shown in the P&L A/c above.

Sales and/or Service Revenue,Other income, Operating,
Administration, marketing/Selling & other expenses for the
period are shown in the P&L A/c, Where as Transfer of Profit
to Reserves, Proposed Dividend, Taxes, etc.,is shown in P&l
Appropriation A/c

In the vertical format P&L A/c items are referred to as
'Above the Line' items & P&L Appropriation items are
referred to as 'Below the Line' items.
 
Is This Answer Correct ?    59 Yes 6 No
Hr Sreepada Bhagi
 
Answer
# 2
meaning given by sree mam is right

so1. calculations of p and l ac is revenue minus exp
and appropriations is net income - reserve- dividend

2. p and lac is known as income statement,statememt of
operations
and appropriations is statement of retaining earnings

3.the income or loss of profit and loss is transferred to
profit and loss approprations
and income or loss of p and l appropriation is transferred
to balance sheet
 
Is This Answer Correct ?    25 Yes 5 No
Manojs
 
 
 

 
 
 
Other Accounting General Interview Questions
 
  Question Asked @ Answers
 
what is reccission?how it is started   1
2. Cash Break Even: SIPW Company sell windows. Windows are sold for $ 25/- each. Variable cost is $ 15/- per door and total Fixed Operating Costs are $ 50,000 /- which includes depreciation in the amount of $ 2,000/-. How many units of windows the company has to sell for Cash Break Even?   1
What are the rules of Account?   7
Maintaining assets register   1
What is imprest a/c ? Berger-Paints 7
How to face the interview of account in mnc & other plz me adivce HCL 1
Who was the first person to climb Mount Everest? DMRC 1
What is the Difference Between P & L A/C and Income and Expenditure A/C ?   3
How to Calculate Salary..? What is % will be taken for Basic Salary,DA,ALLowance,ESIC,PF,PT...Plse Clarify both side Employer & Employee.. Logistics 4
define SOX WNS 1
Purchased 10 pcs Mouse @ 230 from TC Ltd and get another 2 pieces as free sample.   4
Q.Goods worth Rs.5000 destroyed in fire? Insurance claim received RS.4000 for the goods lost? Loss of Rs.1000 pass the entries in the books of accounts?   7
 
For more Accounting General Interview Questions Click Here 
 
 
 
 
 


   
Copyright Policy  |  Terms of Service  |  Articles  |  Site Map  |  RSS Site Map  |  Contact Us
   
Copyright 2013  ALLInterview.com.  All Rights Reserved.

ALLInterview.com   ::  KalAajKal.com