What are the Trading A/c Components and let explain about
Trading account and Profit & Loss Account
- 5 Answers
- 23240 Views
- Focus, I also Faced
- E-Mail Answers
Answer Posted / ankush gandhi
Trading account is prepared mainly to know the
profitability of the goods bought (or manufactured) sold by
the businessman. The difference between selling price and
cost of goods sold is the,5 earning of the businessman.
Thus in order to calculate the gross earning, it is
necessary to know:
(a) cost of goods sold.
(b) sales
The aim of preparing profit & loss account is to find out
net profit or net loss.
| Is This Answer Correct ? | 8 Yes | 1 No |
Post New Answer View All Answers
what is the cost and financial accounting? what is double entry system ?
what happens to each of the three primary financial statements when gross margin decreases?
In Oracle Applications will Translation will create any journal entry then what is the journal entry what are the accounts affected
types of inventory
what is portfolio Saint?
you went outside to purchase vegetagles, suddently big rain came then what you will do
How do the standards assist the users of financial report?
how to maintain stock if any entry mismatch pllzz tell me short cut
i did mba finance in 2010,but i came from life sciences to mba,i know in interview they ask y u came from sciences,so what i tell?pls reply me.
In IGATE, 2 yrs bond for fresher and reverent experience 1 year bond. First z essay writing. “Unforgettable movement ur life” Tiz in ITPL IGATE stopping
whether financing to Bulk Milk Coolers comes under CMA under Agriculture or Non Farm Sector
What do you mean by custodian/Depository, & what are the different types of Depository? (NSDL/CDSL)
proprietor pays the hotel expenses of foreign client by his icici bank credit card. and then he pays the credit card bill by canara bank current account. how to pass entries in tally for this secnario
what is the meaning of call in arear
please tell me questions asked in NICMAR for the post of accounts executive
