Answer / birendra singh

The trading account show in gross profit not show in actual
profit, but the profit and loss account show in actual
profit before pbt

Answer / ajaz ahmad bhat

Trading a/c is the a/c which only relates trade items purchases, sales, and expenses during the trading period but profit and loss a/c shown the all expenses whether direct or indirect and after we will give the output of result of net profit or net loss and transferred the balance sheet.

Answer / sandeep

Trading account means business account in which all
business related account includes.
Profit & Loss account in which only income and expense are
include.

1.what is loan and what is lease? 2.what is defered revenue? and expenditure?

1 Answers   Genpact,

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In manufacturing co at what time entry tax shall be applicable

1 Answers  

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Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.

0 Answers  

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What is difference betwwn cheque & DD

2 Answers  

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Can anyone clearly explain difference between assessment year and financial year?

3 Answers  

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What are the differences between accounting and auditing?

0 Answers  

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What is mean by Asset area?

0 Answers   HP,

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Mr. S wants to set bank reconciliation start date, from where will he activate the same Answer A. Ledger creation B. Accounting feature C. Configuration window D. Display

2 Answers  

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What is the journal entry for goods sold to Mr A in 1 month credit of rs 5000. and also pass entry for non repayment of money after 1 month by Mr A. (What entry will come for this?)

3 Answers   Airtel, Siemens,

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what is the final accunt

3 Answers   Wipro,

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deperication of manufacturing department in manufacturing overhead is a direct expence or indirect expence?explain with reason

1 Answers  

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How would you encourage team building unit for effeciency in the office?

0 Answers   FactSet Systems,

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