Page 127 - Account 10

6 Final Accounts
Unit

CDC Syllabus 15 Periods

6.1 Profit and loss account- Introduction
and advantages
Methods of calculating gross
profit- gross loss and net profit
and net loss
6.2 Balance sheet- Introduction,
advantage and use adjustments:
Closing stock
Advance payment Learning
Outstanding Objectives
Depreciation- in amount After studying this unit, students will
be able to :

define final account and its types,
state the objectives and importance
of trading, profit and loss account and
balance sheet,
prepare trading, profit and loss a/c
and balance sheet,
differentiate between trial balance
and balance sheet,
define some adjustment items and
show their impact of final account,
solve some of the practical problems.

Trading, Profit and Loss Account of Ramesh & Bros.
As on 30-12-075
Balance Sheet of Ramesh & Bros.
As on 30-12-075

Aakar’s Office Practice and Accountancy - 10
rial Balance
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126 Aakar’s Office Practice and Accountancy - 10 Final Accounts 127