Answer / sudhansu dash

After preparation of Trial Balance we have to prepare our
income statement. Now a days this has been directlly
reflect in your concern statement whoever mantain the books
in electronic form.

We prepare the Profit and Loss account to get the net
profit or loss. So, like that we prepare Profit and Loss
Appropriation account to transfer our profit to various
reserve, devidend and retain earning account.

It will help the stakeholders to know the appropriate use
of the profit of the company by that we can establish the
position of the company.

Answer / sankeerthana

Profit and Loss apportionment account is prepared by the
partnership firms. Thru this nett result will be
apportioned among the partners.It will be prepared on the
closure date.

Answer / hunny gupta

Profit and loss Appropriation A/C shows the appropriation
(distribution)of the profit calculated by preparing P&L A/c,
It' debit side shows items like the dividend proposed by the
company, provision for Corporate Dividend tax (on such
dividend), legal reserve and Interim Dividend.
While it's credit side shows the profit of P&L A/c, balance
of surplus of last year, provision no longer required.
The balancing figure, profit (Surplus)is
shown in the balance sheet under the head 'Reserves and
surplus'.
It should be noted that even though The Companies Act does
make it compulsory ti prepare this A/c, it is advisable to
do so because Profit & loss shows only expenses and charges
against profit, it does not shows it's appropriation.

Answer / abdullah amer

profit and loss account is the account prepared to find
out net profite or loss of the business during the
period.

1) I WANT TO KNOW TDS APPLICABLE TO RENT, CONTRACTOR, SALARY, PROFESSIONALS, TRANSPORT ETC 2) WHAT IS PPF . WHAT ARE THE BENEFITS IF A PERSON INVEST IN PPF. WHAT IS THE RATE OF INTREST AT PRSENT. WHAT IS THE PROCUDURE OF PPF. 3 ) WHAT IS INFLATION ? HOW GOVT CONTROLS INFLATION WHAT ARE THE RESERVE BANK ' RESTRICTIONS ON CONTROLING INFLATION 4) UP TO WHAT AMOUNT TDS IS APPLICABLE . PL SEND US CHART OF TDS APPLICABLE FOR ALL ALLIED SERVICES

1 Answers  

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Sir I am taking the Salary Rs 18000/- the shown to me in Pay Roll Basis but not deduct any PF. Plz told me tha is the company liable to deduct my PF?

5 Answers  

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How Calculation of Bonus on Basic or Gross amount( pay in hand)?

1 Answers  

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if company having a loss consecutive last more than 2 years, Depreciation on equipment should be appear in profit and loss a/c or pass the provision entry every unless company not recover profit. Please explain.

0 Answers   Sky Link,

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4- What do you mean by journals and journalizing?

1 Answers  

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In what circumstance month end liability wil increase ?

1 Answers   FIC,

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what is sox?

4 Answers   Accenture,

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WHAT IS BANK RECONSILAION STATEMENT?

5 Answers  

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I am confused with Capital Account and Drawings Account. Please show me "the general Journal Entries" and "Owner's Equity in Balance Sheet". (1) The owner increased his investment in the company by $10,000. (2) The owner increased his investment in the company by $10,000.

2 Answers  

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Our company deposited an amount of 20000 as FD . After the maturity period we are not received any interest and the bank deducted 2938 amount as TDS from our interest and added the interest to the principle amount and renewed the FD. then what is the journal entry for the same.

2 Answers   Spice Telecom,

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Have you ever heard about tds, what it is?

0 Answers  

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Diff between Income & Expenditure A/c AND P/L a/c.

2 Answers  

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