Answer / chandu

we will find all the expenses and incomes in p&l account amd
also we find profit of the company. this is the extract of
company activities in terms of money.

Answer / anup

P&L a/c is list of closing balances of all the nominal
accounts for the given period of time.this a/c help us to
find exact trading profit or loss for that period.we record
all the expenses and losses on the debit side, and all the
incomes and gains on the credit side.debit balance of p&l
a/c is considered as loss and vice-versa.

Answer / nalla rajendra prasad

According to the companies act,1956 Part-II Schedule VI P&L
a/c is used to prepare for the position of company whether
the company is running with profits or losses.with this a/c
we should know the effiency of company.

Answer / reshmi

P&L account displays the income generated and the expenses
incurred for a particular financial year..i.e.. operational
expenses and gains...

It also diaplays your Net Profit before and after tax as
well as before or after paying debenture holders and
preference shareholders' interest...or loss...

Answer / sunil bhatt

In P&L accounts we keep all the administratve expnses in
the debit side and keep all the income and gains in credit
side. We find net loss and profit from it.

Answer / renuka

W'll find all the payment and receipts which is called as
expenses and income in debit and credit side respectively.
depreciation of any assets , insurance claim,Discount
received etc and balance if it is in profit then known as
Net profit and if Net loss.

Answer / raghavendra babu

P&L A/C IS ONE OF THE FINANCIAL STATEMENT.THROUGH THIS WE CAN FIND WHAT R THE EXPENSES AND INCOMES OF THE COMP. AND ALSO THE NET PROFIT R NET LOSS.

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