Trading and Profit & Loss Account Explained | Beginner’s Guide
2:54
YouTubeDr. G. Arockia Sahaya Sheela
Trading and Profit & Loss Account Explained | Beginner’s Guide
In this video, we explain the Trading and Profit & Loss Account in accounting with an easy step-by-step method. 📒 The Trading Account shows the gross profit or gross loss of a business, while the Profit & Loss Account shows the net profit or net loss. These two accounts are part of the Final Accounts of a business. You will learn: What is a ...
79 views3 months ago
Trading Profit and Loss Account Examples
Prepare a Trading, Profit and Loss Account of XYZ, for the year 31st March, 2022 and a Balance Sheet as on 31st March, 2022. - Commercial Studies | Shaalaa.com
Prepare a Trading, Profit and Loss Account of XYZ, for the year 31st March, 2022 and a Balance Sheet as on 31st March, 2022. - Commercial Studies | Shaalaa.com
shaalaa.com
Mar 31, 2022
Master the art of Journal Entries with this quick reference sheet from my #50DaysAccountingChallenge. This note beautifully summarizes the treatment of important transactions like drawings in cash or goods, loss of stock by theft or fire, goods given as sample, goods donated, and bad debts with recovery. It clearly differentiates how these items appear in Trading/Profit & Loss Account and Balance Sheet, while showing the correct journal entries with narration. Understand which accounts are Nomin
Master the art of Journal Entries with this quick reference sheet from my #50DaysAccountingChallenge. This note beautifully summarizes the treatment of important transactions like drawings in cash or goods, loss of stock by theft or fire, goods given as sample, goods donated, and bad debts with recovery. It clearly differentiates how these items appear in Trading/Profit & Loss Account and Balance Sheet, while showing the correct journal entries with narration. Understand which accounts are Nomin
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