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Does discount received have a debit or credit balance in the ledger balance?
discount revived has Cr balance in a profit and loss a/c
What is the difference between discount and loss?
hi I'm Nivedita.the difference between discount and loss is discount is the reduced price whereas loss means the amount of money lost from the c.p.
How do I Find the incremental profit or loss?
The incremental profit or loss is the change in profit or loss over the designated time period. After calculating the profit or loss, for example on a monthly basis, the delta between that and the average monthly profit or loss from the prior year can be determined.
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 discount received an income?
Yes it is an income. It will be posted in the credit side of the profit and loss account.
What is the relation between loss minimization and profit maximization?
the less you lose the more you make
Does discount received have a debit or credit balance in the ledger balance?
discount revived has Cr balance in a profit and loss a/c
What is the difference between discount and loss?
hi I'm Nivedita.the difference between discount and loss is discount is the reduced price whereas loss means the amount of money lost from the c.p.
Why should you take discount recivied in credit side of the profite and loss acccount?
When you receive discount from a seller, it's an income and should be shown in the credit side of the profit & 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
How do I Find the incremental profit or loss?
The incremental profit or loss is the change in profit or loss over the designated time period. After calculating the profit or loss, for example on a monthly basis, the delta between that and the average monthly profit or loss from the prior year can be determined.
What is the difference between loss and negative profit?
Loss and negative profit are same things as there is no such thing as negative profit if company spend more than its earns it has negative profit or loss.
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 discount received an income?
Yes it is an income. It will be posted in the credit side of the profit and loss account.
What is Profit or loss account?
Profit and loss is nothing but an statements which shows the net profit and net loss during a period.
What are the differences between gross profit and full cost profit?
gross profit is taken from the profit and loss account
The difference between total revenue and total cost?
profit or loss
