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how to create the trading a/c, profit & loss a/c & Balance
sheet & What do u mean by bank reconcilation
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Answer Posted / neha jain
Trading a/c, P&L a/c & Balance Sheet is created on the basis
of the given particulars. Purchases & Sales are directly
related to trading a/c & all the expenses which is directly
related with sales & purchase is under trading a/c. It also
includes the expenses which is directly related to factory.
P&L a/c includes all the indirect expenses & the Bad debts
& depreciation is also under this a/c. Balance sheet is the
summation of the trading & p&l a/c. It states the financial
position of the company.
Bank Reconciliation means to recheck or verify the bank
statement with our book.
| Is This Answer Correct ? | 36 Yes | 2 No |
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