Answer / suhasini modagi

P and L a/c is prepared to know the exp and income of the
particular yr.
where as B/s is prepared to know the financial condition or
position of the company.
B/s is follow up of p/l a/c.

Answer / rajesh sharma

P&L is shown the earning status the block period, while the
Balance sheet shown the position prescribed day.

Answer / venkat

P& L A/c Prepard for know particular period that Org Net
Profit / Net Loss

Balance Sheet Prepared for Financial Position for the Year

Answer / prabhat kumar pani.

P/L A/C shows the net profit or loss of a trading
organisation for an accounting period with the help of
incomes & expenditures whereas Balance sheet shows the
position of an organisation at the end of an accounting
period on the basis of asset= liabilities + capital.

Answer / sushil kumar sharma

P/L account is the profit and loos A/c and balance sheet as
a anual economical statment it is not account

Answer / raja

P/L account shows net profit or loss to a concern but
balance sheet shows financial poistion of a concern when
rectification errors entry is passed adjustment account is
passed

Sales Return is asset or laibility

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give journal entries for the following jan-1 started business with cash 50000 & loan 80000

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EXPAND___________LIDCAP

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