Difference between P/L a/c and Trading a/c

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Difference between P/L a/c and Trading a/c..

Answer / pranjal

differance between p/l a/c and trading a/c means

Trading a/c is that a/c which includes only trade related
a/cs like purchase,sales and all those epenses which
incurred only from trade.

But in Profit and Loss a/cs there is the all
direct/indirect income/expenses are to be recorded which
not related to the pure trade.

Is This Answer Correct ?

90 Yes

19 No

Difference between P/L a/c and Trading a/c..

Answer / shanmuga priya

The difference between p/l a/c and Trading a/c is that in
Trading a/c direct income and expenses are entered such as
opening stock, purchases, freight charges , sales, closing
stock.

in Profit and loss a/c. indirect expenses and income are
recorded such as depreciation, salary, rent, commission
received,

Is This Answer Correct ?

42 Yes

7 No

Difference between P/L a/c and Trading a/c..

Answer / harpreet

The trading a/c is an account which is prepared to show the results of gross profit and gross loss during an accounting period..

A profit and loss a/c is an account which is prepared to show the result of net profit and net loss for a particular time of period....

Is This Answer Correct ?

16 Yes

3 No

Difference between P/L a/c and Trading a/c..

Answer / pradeep

difference between trading & P&l a/c is trading account is
show all trade related expenses & Incomes & gross profit
but P&L a/c show Net profit of a co. or firms it show all
typs of income & Expenses .

Is This Answer Correct ?

15 Yes

3 No

Difference between P/L a/c and Trading a/c..

Answer / janardhan

Is This Answer Correct ?

17 Yes

7 No

Difference between P/L a/c and Trading a/c..

Answer / sornavalli

trading account
prepared to know the trading results of the company
to find gross profit of a specific period
sales - cost of goods
p/l accounts to find the net profit of the concern
allows to enter indirect exp &incomes
prepared from nominal accounts and transvered to capital
accounts

Is This Answer Correct ?

8 Yes

2 No

Difference between P/L a/c and Trading a/c..

Answer / pradnya

Trading A/C means which includes all direct and indirect
expenses and incomes. and which also includes
Dr. Trading Account Cr.
______________________________________________________________
Opening Stock Sales
+ Purchases - Sales Returns
- Purchase Returns
Direct Expenses
(Factory related Exps
such as wages,electricity use Closing Stock
for manufacturing etc)

Is This Answer Correct ?

10 Yes

5 No

Difference between P/L a/c and Trading a/c..

Answer / sachin

trading accounts records all income or expence which is
inccured for trading.like purchase, sale ,carrige,wages
closing stock,it shows gross profit and loss

put the p/l records all indirect or directs exp or
indirects expence......it shows net profit which goes to
add in capitail in balance sheet

Is This Answer Correct ?

12 Yes

8 No

Difference between P/L a/c and Trading a/c..

Answer / suraj

TRADING ACCOUNT IS PREPARED BY TRADER AND TRADING ACCOUNT
IS PREPARED TO ASCERTAIN THE GROSS PROFIT OR GROSS LOSS
G.P.=SALES -COST OF GOODS SOLD
THE NEXT IN THE PREPARATION OF FINAL ACCOUNTS IS THE
PREPARATION OF P&L A/C . IT IS OBSERVED THAT SOME ITEMS OF
REVENUE NATURE WILL BE TAKEN IN TRADING A/C AND REMAINING
ITEMS TAKEN IN P&L A/C THERE FORE TO ASCERTAIN NET PROFIT
OR NET LOSS

Is This Answer Correct ?

6 Yes

3 No

Difference between P/L a/c and Trading a/c..

Answer / mubashshir

TRADING ACCOUNT IS MADE BEFORE PROFIT AND LOSS ACCOUNT WITH ALL EXPENSE REALTED TRANSACTION AND TO FIND OUT GROSS PROFIT AND LOSS

PROFIT AND LOSS ACCOUNT IS PREPARED AFTER TRADING ACCOUNT AND BEFORE BALANCE SHEET DIRECT/INDIRECT INCOME/EXPENSES ARE TO BE RECORDED WHICH ARE NOT RELATED TO THE PURE TRADE.

Is This Answer Correct ?

4 Yes

1 No