what is Profit & Loss Account?
- 4 Answers
- 8076 Views
- EDS, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Profit & Loss Account is a summarised statement prepared at
the end of an accounting period (Month, Quarter, half year
or year) showing incomes or revenues under different heads
(Sales, Services, Interest income, etc.) and expenses under
different heads to know the profit earned or loss earned
during the period it relates to.
| Is This Answer Correct ? | 6 Yes | 2 No |
Answer / ganga
p&l a/c is statement of incomes and expences
which is prepared as per the company requirement like
monthly, quarterly, half yearlyor yearly and all incomes
are credited and all expenditure are debited
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / sunil jadhav
Profit and lOss a/c is a statement usally prepared by the
person at the end of the accounting period.Though it is
usaually prepared at but if management needs it can be
prepared on monthly basis or on daily basis. and it
contains on the right hand side Income a/c and on left hand
side it shows your expenses and provisons a/c and balance
of the both side is to recoreded, if there is balance on
the left hand side then organisation shows profits and if
there is balance on the right hand side. but no profit and
loss a/c shows simultaneously both the figure i.e. profit
and loss. It means no organisation will shows
simultaneously profit and loss.
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / pradnya
P& L A/C IS A STATEMENT WHICH IS PREPARED AT THE END OF THE
YEAR. AND WHICH SHOWS EXPENDITURE , LOSSES & INCOMES , GAINS
OF THE COMPANY.
| Is This Answer Correct ? | 0 Yes | 1 No |
Time limit for payment of divident for listed limited companies & Unlisted public limited companies are? 30 or 45 or 60 or 90
what's the mean by Imprest system? Please give me Replay on this no. 9885789716
what is mean by account
The following are the list of Balances of SUNSHINE Company as at 1.2.2012 RM Land and building 450,000. Furniture and Fittings 35,000. Office Equipment 25,000. Motor Vehicles 75,000. Inventory 5,000. Trade Receivables 12,000. Trade Payables 8,000. Bank Loan 200,000. Bank 13,000. Cash in Hand 1,000. Capital 408,000.
The 'going concern concept' is the underlying basis for: 1.stating fixed assets at their historical cost 2.disclosing the market value of securities 3.disclosing the sales and other operating information in the income statement 4.none of the above
1 Answers Infosys, Satyam, Symbiosis,
WCT DEFINATION
HOW WE TREAT WITH LAST YEAR PROVISION LIKE PROVISION FOR BED DEBTS AND DISCOUNT ON DEBTORS PLEASE MAKE A PROPER ENTRY.
how calculate intrest on advance tax ? and penalty on vat?
why do we take preliminary expenses into asset side?
If any company paid taxi fare to staff for special work how can i post it in tally example if Ram get 500 for taxi fare to return home late night due to official work.
what is interest on purchase consideration?
how to enter ATM withdrawal transaction in tally
Audit 
