What are all the items come under P&L and Balance sheet?
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Answer / muhammad yousuf
The Balance Sheet tells you what a company owns, and how much money it owes to others. When examining a balance sheet, the three most important items are “Total Assets,” “Total Liabilities,” and “Shareholders’ Equity.” A quick summary:
Total Assets: This is the total value of everything a company owns, from factories and trucks, to inventory, right down to the pens and pencils in employees’ desks.
Total Liabilities: This is the total amount of money that the company owes to other people (or companies). Loans owed to the bank, bonds issued to investors, payments owed to suppliers, and taxes owed to the government are all liabilities that show up here.
Shareholders’ Equity: Take everything the company owns (Total Assets), subtract everything the company owes to others (Total Liabilities), and what’s left over is shareholders’ equity – the value of the owners’ stake in the company.
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Answer / rishi chaudhary
All indirect expenses, loss and gains, incomes subtract from the gross profit, so gross profit also a part of P&L account.
In the balance sheet all tangible and intangible assets and liabilities comes.
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Answer / md anas ahmed
P&L items are Indirect expense and Indirect incomes.
Balance Sheet items are Assets & Liabilities
Under the mercantile system, all the oustandings & accruals
shall be taken in the P & L a/c. and B/S.
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Answer / pooja gupta
balance sheet only includes items which are of personal and real nature.......
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