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how to create the trading a/c, profit & loss a/c & Balance
sheet & What do u mean by bank reconcilation
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Answer / neha jain
Trading a/c, P&L a/c & Balance Sheet is created on the basis
of the given particulars. Purchases & Sales are directly
related to trading a/c & all the expenses which is directly
related with sales & purchase is under trading a/c. It also
includes the expenses which is directly related to factory.
P&L a/c includes all the indirect expenses & the Bad debts
& depreciation is also under this a/c. Balance sheet is the
summation of the trading & p&l a/c. It states the financial
position of the company.
Bank Reconciliation means to recheck or verify the bank
statement with our book.
| Is This Answer Correct ? | 36 Yes | 2 No |
Answer / rajesh
trading a\c, profit & loss a\c & balance account is
prepared with the help of trail balance.
Bank reconciliation statement is statement to reconcile the
bank balance as per pass book and with bank balance as per
cash book.
| Is This Answer Correct ? | 17 Yes | 1 No |
Answer / chandni
Trading,P&L A/C are created from trial balance of the
business. Trading a/c involves purchases and sales,P/L a/c
includes expenses.
Bank reconciliation is statement to reconcile the
bank balance as per pass book and with bank balance as per
cash book.
| Is This Answer Correct ? | 10 Yes | 2 No |
Answer / vemula rakesh
Trading,profit&loss account and balance sheet is prepared
by seeing the trial balance of that particular company..
Bank reconciliation statement is the stmt which is used to
reconcile he difference between the cash book and pass book
| Is This Answer Correct ? | 14 Yes | 7 No |
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