Answer Posted / shaik jaffar ali

After preparing Trading A/c then we will prepare P&L A/c as
well as P & L Appropriation A/c. After preparing Trading
A/c the Gross profit or Gross loss should be shown in
Tranding A/c. If Gross Profit is there the profit should be
carried farward of the P&L A/c on credit side. or If the
Gross Loss should be shown carried farword that Gross Loss
on the Debit side of P & L A/c. and next all indirect
expenses must be add on the debit side of P&L A/c ex:-
(salaries,rent, wages,VAT tax,Bad Debts,Electricity Bill,
Telephone Bill, Mobile or cell phone bill,printing &
stationery, postage & telegrams,Discount
allowed,Depriciations etc). and any Discount received,
Commission Received should take on the credit side of the P
& L A/c. and then calculate all Debits & Credits
total.After calculating the Credit Balance is more than the
Debit Balance the remaining balance is Net Profit.as the
same way the Debit Balance is more than the Credit Balance
that amount is Net Loss. This is complete Profit & Loss A/c

Expand---------BPCD

2000

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For what purpose ERS is used for?

2232

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when calculating for np% do i include interest or do i take it off

2408

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In SAP FICO How many ways we are Procuring the assets in the Company?

2633

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Give me the asset revaluation (at the time of asset value increase & decrease) journal entrys?

2130

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1. Fdr mature with interest

1824

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please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).

2411

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What is the difference between income statement & Profit&loss A/c?

1912

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EXPAND______________IARCS

1949

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Hi Im Arun D. I m short listed for Karnatka bank interview. Can anybody share ur experiences regarding Bank interview of karnatka bank which was held on dec for Clerical post. Please help me I f u can. thanx in advance

1977

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Expand-------NSAC

1912

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Comments Elements in accounting

1773

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What is functional area,trading partner in sap fico

2083

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Short Answer on ______Budget

1921

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Is interest of a business unit Operating Expense or Non Operating Expense

1861

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