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P&l account

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(Querist)
27 September 2011 Dear Sir,


In Trading A/c & P&L A/C J.V.'s Come or not or actual expenditure incurred will come. what is major difference between income & expenditure A/c And P7L A/c. if suppose purchase of bricks it come in trading a/c as j.v also payment. clarify me.
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
27 September 2011 brother the closing balances of all the ledgers of income and expenses are transferred to Trading And Profit & Loss A/c
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
27 September 2011 The income and expenditure is prepared by th non-profit making organisation whereas th profit & loss a/c is prepared by profit making units
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
27 September 2011 overall expenditure i.e. cash expenditure and expenses booked form JV comes in the P/L a/c
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
27 September 2011 the total purchase of bricks whether cash or credit will be transferred to the Trading A/c
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