Interested to Buy Any Domain ? << Click Here >> for more details...
Distinguish between Profit and Loss Account and Profit and
Loss Appropriation Account.
- 4 Answers
- 48841 Views
- Genpact, I also Faced
- E-Mail Answers
Answer Posted / anjali penta.
Profit and loss account records all the operating and non operating incomes and expenses and incomes to arrive at net profit. This is Net Profit before tax. Further, we record provision for tax on the debit side of the Profit and loss account and get net profit after tax.
Profit and Loss Appropriation account showcases the appropriation of profit. in cse of Companies, only transfer to the various reserves and proposed dividend i recorded on the debit side. Whereas, on the credit side appears Net profit ater tx brought down from the profit and loss ccount and the balance brought dwn from h last year's profit and loss appropriation account.
| Is This Answer Correct ? | 12 Yes | 2 No |
Post New Answer View All Answers
we have received amount from others through debit/ credit cards. what is the ledger group of this? i am confused selecting the ledger group could you explain.
Why Company maintain's books of account?
What qualification do you need to become an accounting professional?
In which term & condition excise invoice raises & for what excise invoice raise?
can we adjust margin money paid to bank to open a Bank Guarantee in stock statement while calculating Drawing Power
What entry to be passed for Duty draw back as receivable
Capital secure should be shown in which side of the balance sheet?
How to make privision in SAP. (Please revert on the possibility of making this happen at PO Stage)
What are the AP accounting entries for EXPENSE ITEM VS Inventory Item in oracle ERP
how will you adjust voluntary seperation payment in cash flow statement
What is a ledger in regards to accounting?
Tell me what would you say are the most important qualities of an account manager?
Hi Everybody, Can anybody tell me how to create ledger in Peachtree Accounting software, means there are some Code, which Codes Comes under which ledger Account.your prompt Answer will be highly appreciated, Thanks & regards, Khan
how to pass interest on security entries and salary payable entries in tally and how to maintain e-commerce company account please revert me ASAP its needful for me
Describe a time when you have not met your goal?
