Financial Statements - I
Chapter 9: Financial Statements - I · ACCOUNTANCY · EN medium
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Refer to our example - you will observe that the trial balance of Ankit depicts accounts, out of which accounts have been transferred to the trading and profit and loss account (refer figure . ). These are the accounts of revenues and expenses. The analysis of figure . shows that the business has incurred total expenses of Rs. , , and revenues generated are Rs. , , making a profit of Rs. , . The remaining seven items in the trial balance reflects the capital, assets and liabilities. We are reproducing the
📖 Accounts 9 (1) · Page 24
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Refer to our example - you will observe that the trial balance of Ankit depicts accounts, out of which accounts have been transferred to the trading and profit and loss account (refer figure . ). These are the accounts of revenues and expenses. The analysis of figure .
shows that the business has incurred total expenses of Rs. , , and revenues generated are Rs. , , making a profit of Rs. , .
The remaining seven items in the trial balance reflects the capital, assets and liabilities. We are reproducing the
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