how to prepare Profit and los accounts ?
Answer Posted / srikant
After complition of Trading A/c. The Gross profit will
transfer to P/L A/c or carry forward to P/L A/c. If there
is Gross profit it goes to right hand side of P/L A/c or if
there is Gross loss then the loss goes to left hand side of
P/L A/c.P/L A/c has two side, one is Expenses side & other
is Income Side. Expenses Side :- Salary, Electricity bill,
stationery exp, Printing exp.,Carriage outward, Bad debts &
all indirect expenses & Income side :- Commission received,
Interest received,Bad debts recovered etc. After complition
of entries, if income is higher than expenses it should
write Net Profit or if Income is less than expenses it
should Net loss.
Is This Answer Correct ? | 23 Yes | 3 No |
Post New Answer View All Answers
Give me total Details of payroll calculation, payslip with examples.
Hi, If I am placing the order in amazon on behalf of the customer who place the order in other e-commerce application in which If I mention the billing address of the customer and goods will be delivered to the customer from amazon ,and other E-commerce site will deduct their commission on the certain % and make the payment to me on some what profit at that time how should maintain my books of account..??
how to do the finalise of account? what is the step? why we need to do like that?
Short Answer on __________Leverage
Expand SOIT
can we get all interview questions with answers in tally 9 which mostly asked in MNC's.
What elements of your job do you find most difficult
credit card entry in tally
how to check which item is sold by the sundry debtors in tally?
How shall I calculate the true profit of my business, as I am a layman for accounting.
can any one send me payables real time scenarious or any projects
total capital stock
What will be the consequences if the partnership is not registered
while doing work in dolphin software when credit note is given by supplier to purchaser then purchaser is debited supplier account so on credit side which account is coming which account should be credited
what is monetary polasy and how it is different from trade polacy? how it will impact on stockmarkets in India?