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.

what are the limitations of accounting conventions

2510

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What is an ea in accounting?

1017

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what is the head for stock trnasfer

2150

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TDS %AGE ON CALLIBRATION CHARGES BILL

1978

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What is the basic accounting equation?

986

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What entry to be passed for Duty draw back as receivable

1869

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A factory uses annually 24,000 units of a raw material which costs Rs. 1.25 per unit. Placing each order costs Rs. 25 and carrying cost is 6% per year of the average inventory. (a) Find the economic order quantity and the total inventory cost including the cost of material.

4778

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What is general ledger account?

1049

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What is absorption costing with defination? and what is marginal costin with defination?

2997

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How can you define departmental accounting?

1198

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April-25 Paid to Mr. Y in full Settlement by Cheque Rs. 4800. April-26 Received a cheque from Mr. B in full settlement Rs. 4900.

3306

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Which steps in Procurement to Pay process does FI documents get created.

2060

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How do you prepare mis reports?

1037

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BRIEF IN DETAIL REGARDING RATIOS

1871

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How to pass accounting entry for a tender cost and under which head? and how to show joint venture in venture's accounting books?under which head?

2503

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