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What is the difference between P/L A/c and Balance sheet?
When an adjustment account is prepared?
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Answer / suhasini modagi
P and L a/c is prepared to know the exp and income of the
particular yr.
where as B/s is prepared to know the financial condition or
position of the company.
B/s is follow up of p/l a/c.
| Is This Answer Correct ? | 27 Yes | 2 No |
Answer / rajesh sharma
P&L is shown the earning status the block period, while the
Balance sheet shown the position prescribed day.
| Is This Answer Correct ? | 15 Yes | 3 No |
Answer / venkat
P& L A/c Prepard for know particular period that Org Net
Profit / Net Loss
Balance Sheet Prepared for Financial Position for the Year
| Is This Answer Correct ? | 10 Yes | 2 No |
Answer / prabhat kumar pani.
P/L A/C shows the net profit or loss of a trading
organisation for an accounting period with the help of
incomes & expenditures whereas Balance sheet shows the
position of an organisation at the end of an accounting
period on the basis of asset= liabilities + capital.
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / sushil kumar sharma
P/L account is the profit and loos A/c and balance sheet as
a anual economical statment it is not account
| Is This Answer Correct ? | 5 Yes | 2 No |
Answer / raja
P/L account shows net profit or loss to a concern but
balance sheet shows financial poistion of a concern when
rectification errors entry is passed adjustment account is
passed
| Is This Answer Correct ? | 3 Yes | 1 No |
can any one tell me the Types of accounts in practise
tell the ratio where the numerator and denominator should contain one from asset side and other from liabilities side
am attend to bank exam(iob)pls send model questions
0 Answers Indian Overseas Bank,
The opening Capital of a concern is Rs.30000/- owner withdral for personal use Rs.28000/- Closing capital balance of concern is Rs.37000/- choose the correct answer from the following. 1.Net Loss Rs.14000/- 2.Net Profit Rs.35000/- 3.Net profit Rs.14000/- 4.Net Loss Rs.35000/-
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