Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / sunil jadhav
Profit and lOss a/c is a statement usally prepared by the
person at the end of the accounting period.Though it is
usaually prepared at but if management needs it can be
prepared on monthly basis or on daily basis. and it
contains on the right hand side Income a/c and on left hand
side it shows your expenses and provisons a/c and balance
of the both side is to recoreded, if there is balance on
the left hand side then organisation shows profits and if
there is balance on the right hand side. but no profit and
loss a/c shows simultaneously both the figure i.e. profit
and loss. It means no organisation will shows
simultaneously profit and loss.
| Is This Answer Correct ? | 2 Yes | 3 No |
Post New Answer View All Answers
When you prepare Profit and loss A/C either you will get profit or loss but not both.Then why we are saying it as profit AND loss A/C,why cannot we say it is as Profit OR loss account?
Have you ever made mis reports and what are they?
IF ONE SUB CONTRACTOR GIVE US BILL OF RS.120000 FOR APRIL,RS.110000 FOR MAY & RS.180000 FOR JUNE WITH LABOUR CHARGES INCLUDING VAT @12.5%.HOW MUCH AMOUNT SHOULD WE DEDUCTED AS A WCT TAX?
What is cash flow and fund flow?
i am trying to set up a recurring reversing journal in Oracle GL, my problem is i have income balance of £30k that i only want to show 1/12th in a period over 12 months. can any one help me set it up . i want to show P01-13 opening balance £30k less £27500 P02-13 reverse P01-13 journal P02-13 opening balance £30k less £25000 etc. or does anyone know of another way it can be done automatically every month.
BRIEF IN DETAIL REGARDING RATIOS
Explain what is balance sheet?
What is definition of a cash float in accounting?
What are depreciation and amortization?
What is an adjusting journal entry?
What is quality discount?????//// pls mail ur answers at my e - mail ID : kamalsodhi24@gmail.com
What is the journal entry of building rent and TDs payment?
i am working in construction company.we have more then one projects.i enter attendance in payroll projectwise.i want salaries in projectwise not overall in payroll autofill. thankyou sir
rents part of its building for a monthly fee of $1,250. The rent for the month just past has not been received.
Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Instructions: Prepare the necessary entries for the declaration and payment of the stock dividend.
