What is the Difference Between P & L A/C and Income and
Expenditure A/C ?
- 3 Answers
- 9278 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / aftab
Profit and Loss Account using for calculating profit and
loss, this using those company which make for earning
profit. Income and Expenditure account using only for
calcuate the surplus and deficit, this using which company
they are not relation with any income. like charitable
trust and non-profit company prepare Income and expenditure
account.
| Is This Answer Correct ? | 12 Yes | 1 No |
Answer / gouthami
profit & loss account is prepare to know net profit or net
loss for a particular year
the main objective of profit and loss account is to know
net profit (trading concerns)
____________________________________________________________
income and expenditure is prepare to know surplus or
deficit of the company this account is prepare by the non
profit companies like Charitable trust.
(non trading concerns)
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / umamaheshwara rao
profit & loss is prepare when they have completed their financial year. they should be calculated our trading and profit and loss account. it is prepare only for trading concern. and income and expenditure account should be prepare only non trading concern like charitable trusts. temples
| Is This Answer Correct ? | 2 Yes | 0 No |
What is the entry to be passed on receiving the tds certificate in the books of the deductee?
What is the difference between accounts & Finance?
1 Answers Muthoot Group, Weber,
Difference between P/L a/c and Trading a/c
Company Providing Mobile handset to all employee on free of cost and returnable basis while leaving the job. My query is- how i account the above transaction - under fixed asset or mobile expenses- ( indirect exp) or staff welfare ( indirect exp ) Kindly suggest
private placement
chq. of ICICI received from big jos of rs. 35000/- for credit sale bill no. S/01 andBill no. S/03
What are the items that are to be debited in accounting and what are the items that are to be credited in accounting?
What is the journal entry of building rent and TDs payment?
What is the treatment of loan and its interest in trading profit and loss ,balance sheet
Tell me why some asset accounts have a credit balance?
what is accounts?
How Can We Justify the,Real A/C & Nominal A/C?
Audit 
