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why the provision is created in profit and lose account
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Answer Posted / sunny matta
Because Provision means the unexpected cost which will hit
in our books in future that's the reason we will put some
estimated amount in the books for particular account codes.
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Opening stock 17499565 purchses 89693855 expanditure 1735800 deprciation 223309 patner salary 300000 interst paod 937500 provisions 119265 sales 91600120.adjustment 1 gross profit is 6.72percentage on sales.2.net profit is 3.10 percent on sales
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