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why gross profit transfering to profit & loss account
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sales-cogs =g.p (or) g.p/sales*100
gross profit is derived while preparing trading a/c as it appear in trading a/c debit side.
As it is a profit that's why it's treated as income in p&l
a/c and the expenses are deducted if the differences appear in debit side of p&l a/c it is net profit. if it appears on credit side it is net loss
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What do you mean by invoice?
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Why Copyrights,patents,goodwill etc.etc. falls under real account and not nominal or personal account? I know anything which affect trading & Profit & Loss accounts are nominal accounts.And the above do not affect the Trading or P/L accounts but on the other hand they are intangible and neither can they fall under real accounts as Real accounts are those that are not personal and they are tangible. Again in another way if we see, Patents, Copyright ,Goodwill etc. etc. kindoff acts as a representative of a person or a company like in the same way as a Bank or Company name,so they can they not fall under Personal Account??
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