What is Trading Account? What is the significance of this
account?
- 2 Answers
- 4153 Views
- I also Faced
- E-Mail Answers
Answer Posted / lxmi1972
Trading Account means where a company has Sales,
purchase,Sales Return,Purchase Return along with the
Closing stock .
Trading Account plays a vital role as this will determine
the Gross Profit of the Company.
| Is This Answer Correct ? | 3 Yes | 0 No |
Post New Answer View All Answers
on what rate depreciation will be calculated?
Hello Sir, My Name is Shoaib, I am Novice in Accounting Field. I want to learn the simple & step by step, procedure to final my company account. Please Help
What is Provision Entry
What action could be taken by you and your manager to improve your performance in your current position?
What is deferred account?
What elements of your job do you find most difficult?
under the modified cash basis of accounting, most revenues and expenses are recognized on the cash basis. Which one of the following items is an EXCEPTION to this accounting practice? a.Advertising b.Professional Fees. c.Supplies d.Rent
capital goods purchased from Singapore. payment made by bank in rupees. but the invoice value is in USD, How to make purchase entry in tally?
What is mis report , how to prepare mis report for general ledger?
What do we mean by Redemption of shares and debentures?
Tell me about an invoice discrepancy you discovered and how you resolved it
Explain me what is tally accounting?
my assessment says that I must post a dishonoured cheque in the general journal not a specialised journal how would I write that I know bank would be credited but what account would be debited???
Tell me do you think accounting standards are mandatory and why?
what is your opinion regarding T.V shows on youth
