why at the top of P/L a/c we write for the year ending and at the
top of balance sheet we write as on or year ended.

Answers were Sorted based on User's Feedback



why at the top of P/L a/c we write for the year ending and at the top of balance sheet we write as ..

Answer / h.r. sreepada bhagi

P&L A/c covers all the transactions during an accounting
period or accounting year (Eg. 1st April to 31st march next
year), so the heading appears as P&L A/c for the period
ended (If it's not for a full year), month ended, year
ended, etc.

Whereas the Balance Sheet is prepared as on the last day of
the accounting period or year and it presents the position
of Assets, Liabilities & Networth (Financial Position)of the
business entity as on that date, so the heading appears as
Balance Sheet as on.........

Is This Answer Correct ?    34 Yes 2 No

why at the top of P/L a/c we write for the year ending and at the top of balance sheet we write as ..

Answer / anuj.genx

because P/L is prepared for full year and balance sheet is for particular date that is year ending date.

Is This Answer Correct ?    25 Yes 3 No

why at the top of P/L a/c we write for the year ending and at the top of balance sheet we write as ..

Answer / sumitra.raghavan

bcoz p/l takes into consideration effect of transaction thru
out the accountng period...where as b/s is indiactes position
as at particular date

Is This Answer Correct ?    3 Yes 0 No

why at the top of P/L a/c we write for the year ending and at the top of balance sheet we write as ..

Answer / farhath

p/l is prepared for recording all transactions hapnd during
the year thts y it is writen as year endig with particular
date...and balance sheet is prepared at the end of d year
were al p/l balnc is included with d conclusion of d presnt
condition of the company thts y it is written as end of the
year..

Is This Answer Correct ?    6 Yes 4 No

why at the top of P/L a/c we write for the year ending and at the top of balance sheet we write as ..

Answer / murali

P & L Prepared for the particular Year. In these Period all
transactions related to Revenue income & Revenue
expenditure recording in to P&L ( i.e. Short Trem)


but in balnce sheet it is cumulataively transfer to the
next year. so P&L show for the yra and b.sheet shows Year
ended.

Is This Answer Correct ?    3 Yes 4 No

why at the top of P/L a/c we write for the year ending and at the top of balance sheet we write as ..

Answer / suhrid de

P/L is the result of a period whereas B/Sheet is the ending
result of a particular accounting period.

Is This Answer Correct ?    2 Yes 4 No

why at the top of P/L a/c we write for the year ending and at the top of balance sheet we write as ..

Answer / venkat

p/l a/c is the a/c it showss the information about profit r
loss for the particular year r period so we r writing
heading like"p/l a/c for the year ending.... "
But balance sheet is the statement it shows not only fixed
period so we give heading like"balance sheet as on...."

venkat
9603282777

Is This Answer Correct ?    2 Yes 4 No

Post New Answer

More Accounting AllOther Interview Questions

What will be the journal entry of bank charges paid to bank

5 Answers  


what will be shown under bank reconciliation statement?

2 Answers  


I want to know how to get Appeared to the examination of State bank of India. And how can i find the question Book Series.

0 Answers  


What is Quick Book ?

2 Answers   SVT,


What is the uses of Ratio's in The Finanacial management? Explain it?

2 Answers   IBM,






How can someone prepared for Syndicate Bank Interviw? Do interviewer going to ask any aptitude questions or will it be similar to other PO Interviews? Answers solicited..

0 Answers   Syndicate Bank,


Why we have to present first and second draft(Bill of Exchange) for bank negotiation.Why cant we present only One draft?

1 Answers  


Basic of Accounting Theory

3 Answers  


what is a contract note?

8 Answers   Capital IQ,


What is difference between cash flow and funds flow?

0 Answers  


Any two difference of Trading and Profit and loss A/c

6 Answers   IBM, Syntel,


what is meant by spin off?

4 Answers   Capital IQ,


Categories