the later stage and there you will notice how this format undergoes a change

the later stage and there you will notice how this format undergoes a change with respect to each one of them. Trading and Profit and Loss Account of ABC for the year ended March , Expenses/Losses Revenues/Gains Carriage inwards/ Freight inwards/cartage Gross profit c/d Gross loss b/d xxx xxx Gross loss c/d Gross profit b/d Rent/rates and taxes Inerest received Repairs and renewals Net loss Net profit (transfered to capital account) xxx xxx , either of the items computed Fig. . : A format trading and profit and loss account