Golgappa.net | Golgappa.org | BagIndia.net | BodyIndia.Com | CabIndia.net | CarsBikes.net | CarsBikes.org | CashIndia.net | ConsumerIndia.net | CookingIndia.net | DataIndia.net | DealIndia.net | EmailIndia.net | FirstTablet.com | FirstTourist.com | ForsaleIndia.net | IndiaBody.Com | IndiaCab.net | IndiaCash.net | IndiaModel.net | KidForum.net | OfficeIndia.net | PaysIndia.com | RestaurantIndia.net | RestaurantsIndia.net | SaleForum.net | SellForum.net | SoldIndia.com | StarIndia.net | TomatoCab.com | TomatoCabs.com | TownIndia.com
Interested to Buy Any Domain ? << Click Here >> for more details...


how did prepare the trail balance & profit & loss A/c and
balance sheet



how did prepare the trail balance & profit & loss A/c and balance sheet..

Answer / rishabh shah

India follows IASB (International Accounting Standard
Board).Basically for any expenses or revenue their would be
an voucher entry and this vocuher would be inturn posted as
an Journal Entries. Jounral Entries works on three
standards,

1. Nominal Account
2. Real Account
3. Personal Account

Once the Journal Entry is prepared, it would be posted into
Ledger, Trial Balance, profit and loss statment and finally
Balance sheet.

Inshort it follows the below flow chart !!!

Voucher > Journal Entry > Ledger > Trial Balance > Profit
and Loss Account > Balance Sheet.

Is This Answer Correct ?    16 Yes 1 No

Post New Answer

More Accounting General Interview Questions

what is set off and carry forward.

2 Answers  


What is the important of computerized accounting to manual?

0 Answers  


In the income statement we may get profit or loss but the name of the statement was Profit and Loss account Why it was so?

1 Answers   Satyaki Educational Academy,


whatis the meaning of Depreciation? and why it will charge?

6 Answers  


I have received 75000/- as retainership fees from ABC company but they have deducted TDs 10% and send me 67500/- my question is that what entry i have to pass in my books please help me

5 Answers   Pharma Traders,


Explain what is balance sheet?

0 Answers  


i have dot regarding journal entry on capital A/c, int cap A/c --- dr cap a/c is it correct , if so y can u give an answer

2 Answers  


when re ordring quantity is 300 unit.minimum usage is 20unit minimum lead time is 5 days , maximum stock 400 unit , re - ordering will be: 1)300 unit 2)200 unit 3)400 unit 4)100 unit

2 Answers  


Salaries and wages per general ledger is 288,000 of which 56,500 is paid in advance. Req: Prepare adjusting journal entries from the books of audrey company as of dec 31 09. (pls help me with this, I'm a bit slow but willing to learn, thanks!)

1 Answers  


what is the different between nominal account and real account ? and then personal account ?

2 Answers  


professional tax payment for april 2017 paid from ranbeers credit card what are the expesses booking entry in tally

0 Answers  


WHAT IS BRS

3 Answers  


Categories