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Accountant
20 Points Posted on 09 May 2021
Sir please tell me one thing if we provide rent, commission service to consumers then we have to show whether in sale of service under trading account or in indirect income under p&l. Please clarify i got confused.
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On 09 May 2021 at 23:44 Report
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This discussion clarifies the correct placement of rent and commission income within financial statements. It explains that these types of income, being primary revenue streams not related to manufacturing, should be reported in the Profit and Loss (P&L) account, not the trading account. The consensus is to show these incomes under the P&L.

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Chartered Accountant
20 Points Posted on 10 May 2021
Both the incomes are primary revenue so it will comes under Profit and Loss account. The incomes are not in manufacturing nature so it will not posted to trading account.
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On 10 May 2021 at 05:55
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Practice
20 Points Posted on 10 May 2021
Yes, you should show it in profit and loss account.
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On 10 May 2021 at 08:32
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Accountant
20 Points Posted on 10 May 2021
Thank seniors 💕💕
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On 10 May 2021 at 09:03
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Practice
20 Points Posted on 10 May 2021
Your welcome
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On 10 May 2021 at 09:04
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Chartered Accountant
20 Points Posted on 10 May 2021
Your welcome
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On 10 May 2021 at 09:18

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