Golgappa.net | Golgappa.org | BagIndia.net | BodyIndia.Com | CabIndia.net | CarsBikes.net | CarsBikes.org | CashIndia.net | ConsumerIndia.net | CookingIndia.net | DataIndia.net | DealIndia.net | EmailIndia.net | FirstTablet.com | FirstTourist.com | ForsaleIndia.net | IndiaBody.Com | IndiaCab.net | IndiaCash.net | IndiaModel.net | KidForum.net | OfficeIndia.net | PaysIndia.com | RestaurantIndia.net | RestaurantsIndia.net | SaleForum.net | SellForum.net | SoldIndia.com | StarIndia.net | TomatoCab.com | TomatoCabs.com | TownIndia.com
Interested to Buy Any Domain ? << Click Here >> for more details...

Why is Income statement prepared?

Answer Posted / jitendra kumar mishra

Actually income statement is prepared for the purpose of to
know real profit or loss during the accounting period. it
also disclose what comes and what goes out during that
period.

Is This Answer Correct ?    4 Yes 5 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What is the Technology used to carry out trades? Pls Tell me as early as possible.

3593


can any accountant forward format of daily or monthly mis format for accounts and finance dept!!

1929


how pass journal entry in the month ending for input vat and out put vat

2301


SOLD GOODS WORTH 5000 TO AKBAR WHO PAID 3000 ON ACCOUNT

2213


Explain me by saying, perpetual or periodic inventory system; what do we mean?

1188


If balancing account is not assigned to company & is assigned to department wat will be the effects

2067


What do we mean by purchase return in accounting?

1150


What is peach tree accounting?

1136


Was there a time when you lost the chance to engage a prospect? What happened and what did you learn?

1171


What is journalizing?

1192


What is tally accounting?

1187


What is batch input? why we use batch input session in SAP(FICO)?

5413


WHERE WE CAN USE VAT 5%,14.5%

2638


Mr. A purchased a machinery costing Rs. 1,00,000 on 1st October, 2005. Transportation and installation charges were incurred amounting Rs. 10,000 and Rs. 4,000 respectively. Dismantling charges of the old machine in place of which new machine was purchased amounted Rs. 10,000. Market value of the machine was estimated at Rs. 1,20,000 on 31st March 2006. While finalising the annual accounts, A values the machinery at Rs. 1,20,000 in his books. Which of the following concepts was violated by A? (a) Cost concept (b) Matching concept (c) Realisation concept (d) Periodicity concept.

2089


If the company acquires equipment prior to incorporation what are the accounting entries?

1665