Answer / hitesh akki

we write profit and loss account because this particular
performa has got one debit side n one credit side if credit
amount is more we get profit n if debit amount is more we
get loss and at the begnning of the year we will be not
knowing whether we will get net profit or loss so we will
write porfit & loss account...we generally dont use profit
or loss account because in accouting system the performa is
set as profit & loss account we cant change the rules of
accouting standards we we have to follow this performa
only..

Answer / dipak

we don't know at time of drafting p&l a\c that at the end
of a/c period we will get p or l.further some item ln p&l
a/c there may gross loss or profit but at the end it will
be net profit or loss.

Answer / shankar

Some times in some transanction gross loss or gross profit
may come all company transanctions but at the end of the
year only net profit or net loss comes.

what is journal entry to make- provision for liablities and provision for assets

2 Answers  

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Can anyone mail journal entries for me? my Mail id rukmini@live.in

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Expand-------- CTEI

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what is mean by reserve?

5 Answers   RRDonnelley,

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Expand--------SRTA

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What type of question generally asked in Brokerage Firm ?

0 Answers  

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EXPAND______________PDC

4 Answers  

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What is the means of Limited.they are not asked about public limited or private limited or difference tehy asked only what is the limited

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what are the golden rules of accounts and the items of personal accounts,real account,nominal accounts?

3 Answers  

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what do you meant auction? what is F & o segment?

0 Answers  

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A crushing unit blasted 1650Mts in the month of March 2009. The rate of Royalty to be paid is rs 35/- Per MT. Advance royalty was paid rs 250000/- on 1-3-2009. pass journal entries from the advance royalty

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What is meant by Intangible Assets?

5 Answers  

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