Why we are crediting Gross profit or debiting a Gross loss in the profit and loss account?
Answer / ajit sharma
to equal the dr and cr and also know the status our firm . cr in p&l a/c is profit and dr means exp more than income.
Is This Answer Correct ? | 1 Yes | 0 No |
wat is mass allocation and when it is used
What entry to be passed for Duty draw back as receivable
What is the Journal Entry of Closing Stock (Raw Material) of a manufacturing Company
What will be the entry when deduct ESI @1.75% from the employees salary?Same as in the time of ESI of employer part @4.75% in tally posting? In PF posting in tally what will be the entry ?
sir, I wanted to know what is the difference between cash and cheque payment in terms of tax.
What is the Difference Between Tally Software & SAP Software..?
14 Answers GTS, SSK, TATA,
what are Accounting Documents and Book of Accounting
what is current rate of excies duty for a manufacturing company?
Discuss the consistency concept in accounting
What are the major components of country's trade account?
0 Answers Franklin Templeton, Industries Promotion Officer, Wipro,
how we can calculate sundry debtors and crditors a/c?show some examples
When you prepare Profit and loss A/C either you will get profit or loss but not both.Then why we are saying it as profit AND loss A/C,why cannot we say it is as Profit OR loss account?