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How can you estimate a company's profit without a profit and loss account?
Wiki User
∙ 13y ago
You can take known information about the company and apply industry/regional standards.
For example, if it is a retail store, you could estimate sales based on square footage and then estimate profit as a percentage of sales.
If it is a service business, you could estimate income per productive employee, etc.
Wiki User
∙ 13y ago
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What is the Virginia Companys goal?
As a joint stock company profit was the goal.
What is a share of a companys profit?
The stockholder's share of a company's profits are called dividends.
how does income and expenses account difference from Profit and Loss Account?
Income and expense for not for profit organisations is same as profit and loss account but they cannot use the name profit and loss account because not for profit organisations are not formed to earn profit.
Why profit and loss account is called as profit and loss account and why not profit or loss account?
Tradition, and the need to call it something.
What are the limitations of profit and loss account?
"What are the limitations of profit and loss account?"
Advantages and disadvantages of trading profit and loss account?
: Profit and loss account gives the actual information about net profit or net loss of the business for an accounting period, Profit and loss account gives the actual information about indirect expenses, Profit and loss account serves to show the ratio between net profit to sales, Profit and loss account helps in showing the ratio between net profit to operating expenses, Profit and loss account helps in controlling indirect expenses
Profit and loss appropriation account uses meaning?
details of profit and loss appropriation account Profit and loss appropriation account is prepared after profit and loss account..It s a account where the profits earned by the company is brought in from profit and loss accont and it s distributed to various accounts like interim divident account, provision for taxiation account, general reserve account etc.....it s a account which shows how the profits are distributed in an organisation.....
What is the difference between profit and loss account and profit and loss appropiation account?
Profit and loss accont is used to calculate the profit or loss of business while profit and loss appropriation account is used to allocate or distribute net income or loss to share holders or different reserves account.
Is profit and loss account is a nominal account?
Yes. Profit and loss account is a nominal account and also trading a/c to be prepared at the end of the year.
What is debit balance of profit and loss account?
Debit balance of Profit & Loss Account represents "Loss"
About projected balance sheet and profit and loss account?
how to prepare the forecast report of profit and loss account with balancesheet
Is Profit and loss appropriation account a financial statement?
Yes it is. For partnerships, their P&L account can be divided into 2 parts, the normal P&L account and also the P&L appropriation account. once profit and loss account is prepared to do some adjustment with the net profit , predecided by the management, a separate account is opened named profit and loss appropriation account. :) I LOVE JUSTIN BIEBER
