Interested to Buy Any Domain ? << Click Here >> for more details...
What are the Trading A/c Components and let explain about
Trading account and Profit & Loss Account
- 5 Answers
- 24718 Views
- Focus, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / r.m.rafi
trading A/C it is prepare to asertain the grass profit or
grass loss
profit& loss A/C main object of P&L A/C is to asertain the
net profit or net loss made by the business for a
particular period.
| Is This Answer Correct ? | 24 Yes | 7 No |
Answer / dayakar
Where the business deals with selling and purchasing of
goods,trading account is prepared,it is prepared to know the
gross profit or loss.the components are (opening
stock,purchases,direct materials,wages,carriage or freight
inwards,power&fuel,factory lighting,factory rent&rates,sales
sales returns,purchase returns,closing stock.
p&l account records all other expenses and incomes related
to the running of the business such as selling and
distribution expenses,administrative expenses,other incomes.
| Is This Answer Correct ? | 12 Yes | 1 No |
Answer / nitesh
trading means sales and purchase to find out gross
profir/loss.
P/L a/c means income and expenses through find out Net
profit/loss.
| Is This Answer Correct ? | 11 Yes | 3 No |
Answer / ankush gandhi
Trading account is prepared mainly to know the
profitability of the goods bought (or manufactured) sold by
the businessman. The difference between selling price and
cost of goods sold is the,5 earning of the businessman.
Thus in order to calculate the gross earning, it is
necessary to know:
(a) cost of goods sold.
(b) sales
The aim of preparing profit & loss account is to find out
net profit or net loss.
| Is This Answer Correct ? | 8 Yes | 1 No |
Answer / anil
trading means purchase the goodes services , sale is
selling cost of then gross profit
profit & loss a/c is how is the income in the firm
| Is This Answer Correct ? | 9 Yes | 15 No |
Difference between Depreciation and amortisation?
what is CRR????? WHAT DO U MEAN BY CRR???
3 Answers State Bank Of India SBI,
I have SB A/c and in the statement service@10.30% debted by bankers in every month,in which amount they charge@10.30% ?
state the circumstance under which an agreement is viod abinitio.
2 Answers College School Exams Tests, Ignou, L&T, SRK,
EXPAND___________NBFCS
EXPAND___________KFCC
what is the difference between Assets Allocation & Security selection?
treatment of P&L A/c 's balance in trial balance and balancesheet
what is corporate action? wt is the purpose and tpes of corporate actions?
Expand C I N
Expand---------TDCB
My name is Tasha actually I had put my file for Australia PR on basis of Hairdresser, and I have shown my qualification of 10th passed, but I done my B.Com with Accountancy, and presently I am working as Accountant,Now I want to put up my file for Australia Student is it possible, and my age is 36 yrs, I had already given my IELTS (Academic) and I have scored 6 bands, but its period has been expired,please give me some answer what to do next.
Audit 
