Classwork Series and Exercises {Financial Accounting – SS1}: The final accounts of a sole trader (Profit and loss account)
Financial Accounting, SS 1, Week 6 Topic: Profit and Loss account Introduction The profit and loss account is the account that shows the net profit or net loss of an organization. Income or gains are credited while expenses are debited . The profit or loss will be taken to the capital account. Profit and loss […]
