0
sales
less: slaes returns
less:cost of goods sold
opening stock
purchass
less:purchases returns
add:carriage inwards
less:closing stock
less:drawings
gross profit
add:discount recievd
less:carriage outwards
wages
discount allowed
rent
insuranc
sundary expenses
proprty tax
NET PROFIT
What else can I help you with?
What are the characteristics of final accounts?
Final accounts are closed accounts at the end of a period in accounting. Final accounts cannot be changed and represent the transactions in an accounting period.
What are characteristics of final account?
Final accounts are closed accounts at the end of a period in accounting. Final accounts cannot be changed and represent the transactions in an accounting period.
What is manufacturing account?
What is the format for manufacturing accounts
What is matching concept?
while preparing final accounts, accounts should show accruals and prepayments.the net amount for the financial year should be shown in the final accounts
What is final round format?
it is a championship
What is the proforma for final accounts?
Trial balance
What are the duties of the final accounts department in an organisation?
The finance department of a company is responsible for preparing final accounts. The prepare the Balance Sheets and the profit and loss account.
How do you treat interest on debentures in final accounts?
is it a liability
What is preliminary expenses in final accounts?
It is deffered cost
How do you treat debenture interest in final accounts?
is it a liability
Where does general reserve appears in final accounts?
Asset side
What is the explanation for the liquidator's final statement of accounts?
The liquidator's final statement of account is the account of winding up.
