Question 48 Chapter 1 of +2-B - T.S. Grewal 12 Class

Question 48 Chapter 1 of +2-B

Table of Contents

The solution of Question 48 Chapter 1 of +2-B: –

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

Miscellaneous

48. Under which Line item (major head) of the Statement of Profit and Loss of non-financial company will the following be shown:
(i) Sale of Goods ; (ii) Revenue from Services Rendered; (iii) Interest Earned; (iv) Gain (profit) on Sale of Assets; (v) Purchases of Stock-in-Trade; (vi) Salaries and Wages; (vii) Interest paid to a bank; and (viii) Carriage Outward?

The solution of Question 48 Chapter 1 of +2-B: –

Items	Major Heads
(i) Sale of Goods	Revenue From Operations
(ii) Revenue from Services Rendered	Revenue From Operations
(iii) Interest Earned	Other Income
(iv) Gain (profit) on Sale of Assets	Other Income
(v) Purchases of Stock-in-Trade	Purchases of Stock-in-Trade
(vi) Salaries and Wages	Employees Benefits Expenses
(vii) Interest paid to a bank	Finance Costs
(viii) Carriage Outward	Other Expenses