SpletPrepare the trading and profit and loss account for the year ended 31st March, 2016 and the balance sheet as on that date after adjusting the following: i. Commission received in advance Rs. 400 ii. Advertisement paid in advance Rs. 150 iii. Wages outstanding Rs. 200 iv. Closing stock on 31st March 2016, Rs. 2,100 Solution Illustration 16 SpletTrading Profit and Loss Account Classifying Items for the Trading Account vs the Profit and Loss Account ID: 1256857 Language: English School subject: Accounting Grade/level: 10 -12 Age: 13-18 Main content: Classifying Items for the Trading Account vs the Profit and Loss Account Other contents: Add to my workbooks (10) Download file pdf
Final-Accounts-Questions and answers - Studocu
Splet06. apr. 2024 · A Computer Science portal for geeks. It contains well written, well thought and well explained computer science and programming articles, quizzes and practice/competitive programming/company interview Questions. SpletA trading account’s assets are segregated from those held in a long-term buy-and-hold strategy. The profit and loss statement, abbreviated as P&L, is a financial statement that summarises revenues, expenditures, and expenses incurred during a specific time period, generally a fiscal year. The P&L statement corresponds to the income statement ... fire restoration company
Risk Management in Trading - Trading with Smart Money - Dot Net …
SpletHere is the video about Final accounts with 14 Adjustments, with this we discussed Profit and loss account, Balance sheet, outstanding expenses, Bad debts..., hope this will help … SpletProfit and loss account is prepared for the following purposes: (i) Ascertainment of net profit or net loss The profit and loss account discloses the net profit available to the proprietor or net loss to be borne by him. Ascertainment of profitability helps in planning for the growth and efficiency of a business enterprise. Splet12. apr. 2024 · The profit and loss account is the second part of the final account that is used to determine the net profit of the business concern. Trading and Profit and Loss … ethnic population of hawaii