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Miscellaneous account

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Utpal roy

back office asst

254 Points Posted on 14 March 2024

Sir, can I take miscellaneous account in profit and loss account ? and what type of expenses should input this miscellaneous account

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Quick Summary

This discussion clarifies the placement of 'miscellaneous accounts' within financial statements. It addresses whether such expenses should be recorded in the Profit and Loss account or treated as capital. The conversation also explores the types of expenses suitable for a miscellaneous account and their purpose, distinguishing between drawings from capital or bank accounts.