how to prepare Profit and los accounts ?
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Answer Posted / sujatha
trading a/c is the statement which shows the gross profit
or gross loss of a particular company or a firm at the end
of the year.in the p&l a/c statement we will enter all
indirect expenses on the debit side, and all indirect
incomes on the credit side.from this statement we will come
to know the net profit or net loss of a company or afirm.
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