What is trail balance? what is Profit & loss a/c ? what is
Balance sheet?
- 4 Answers
- 7400 Views
- Siyaram, I also Faced
- E-Mail Answers
Answer Posted / prasad.g
Trail balance:
it is a statement. it is prepared by besed on ledger closing information. it concist of in the debit side all expences, losses & assests. the main objective of preferation of trail balance to know the aurthamatit accurucy of the organization.
profit & loss a/c :
it is a financial statement. it consist of all indirect exp & incoms, poerating & non perating. main object of preparetion of p & l ac to know the net profit possition of the organation.
balance sheet:
it is one of the financial statement. it consist of assets & liabilities. main objective of preparetion balance sheet to know the financial posotion or condation of he organization.
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
Expand---------TDCB
What is Direct Debit
Guest expenses Rs 5500/-on behalf of partner Aravind was written as Hospitality. Rectify it
What are the legal entities that constitute your business? Does a legal entity have a seperate Federal Tax Id? In which country does a legal entity operate? In which currency does a legal entity operate? When does each legal entity's fiscal year begin?
What are events occuring after the balancesheet date?
how to entry in tally for other person check received
We have a registered dealer under APVAT Act. Our company is manufacturing & marketing of seeds. seeds exempted under vat. recently we have purchased machinery for our new plant construction, against c form. now sales tax dept.not giving the c forms, because our final product is exempted, we are not eligible for c forms. kindly clarify.
Whatis new GL & Odd G.L What is the difference between these two.
Exapnd--------RAN
what is payment method?How many payment method we can assign to company code.
what are the questions commomly asked in reuter's interview.?
what is cc limit and what role accountant play to maintain it?
why you choose accounting as your career ? ?
Pls Explain Accounting Standered 1,3,11,29
what is the difference between planned and non planned budgt
