Format of Profit and Loss Account
Format of Profit and Loss Account
Format of Profit and Loss Account
To gross loss transferred from trading a/c Xxx By gross profit transferred from trading a/c Xxx
To Salaries Xxx By interest received Xxx
To rent ,rates and taxes Xxx By discount received Xxx
To postage and telegram Xxx By commission received Xxx
To Audit fees Xxx By income from investment Xxx
To printing and stationery Xx By apprenticeship premium Xxx
To telephone charges Xxx By bad debt recovered Xxx
To legal charges Xxx By miscellaneous income Xxx
To insurance Xxx
To general expenses Xxx
To heating and lighting Xxx
To advertisement Xxx
To bad debt Xxx
To export expenses Xxx
To freight and carriage outwards Xxx
To bank charges Xxx
To entertainment expenses Xxx
To repairs and renewals Xxx
To depreciation Xxx
To interest Xxx
To trade expenses Xxx
To office expenses Xxx
To discount allowed Xxx
To travelling expenses Xxx
To loss by fire and theft Xxx
To interest on capital xxx
To net profit transferred to capital a/c xxx By net loss transferred to capital a/c Xxx
xxx xxx
Treatment of certain items in Trading ,Profit and loss a/c
1. Royalties
• Two Types