Junior Accountant Question:
Tell me what items are included in Profit and Loss account?
Answer:
☛ Salaries
☛ Rent
☛ Rates and Taxes
☛ Interest
☛ Commission
☛ Trade Expenses
☛ Printing and Stationery
☛ Advertisement
☛ Carriage out, freight out, carriage out
☛ Repairs
☛ Travelling expenses
☛ Samples
☛ Depreciation
☛ Apprentice premium
☛ Life insurance premium
☛ Insurance premium
☛ Income tax
☛ Interest on capital and drawings
☛ Loss or gain on asset sold
☛ Discount received and allowed
☛ Trade discount
☛ Rent
☛ Rates and Taxes
☛ Interest
☛ Commission
☛ Trade Expenses
☛ Printing and Stationery
☛ Advertisement
☛ Carriage out, freight out, carriage out
☛ Repairs
☛ Travelling expenses
☛ Samples
☛ Depreciation
☛ Apprentice premium
☛ Life insurance premium
☛ Insurance premium
☛ Income tax
☛ Interest on capital and drawings
☛ Loss or gain on asset sold
☛ Discount received and allowed
☛ Trade discount
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