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mention five items that is commonly use when preparing
trading and loss account

Question Posted / olu4love

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mention five items that is commonly use when preparing trading and loss account..

Answer / s

five main items include in trading account are:
1.purchase
2.wages
3.opening stock
4.sales
5.closing stock.

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mention five items that is commonly use when preparing trading and loss account..

Answer / v sakkthivel

Trading account

Opening Blanance/ Opening stock
Purchases
Puchase return
Sales
Sales return
Closing stock
Gross profit
Carriage inwards
carriage out wards


Profit and loss account

Wages
Salery
Disount
Insurance
bad debt
Reserve for bad debts
intrest
net profit
postage and stamps
telegrem charges

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