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

Question 48 Chapter 1 of +2-B
Question No. 48 - Chapter No.1 - T.S. Grewal +2 Book Part B-min

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Question 48 Chapter 1 of +2-B

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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 GoodsRevenue From Operations
(ii) Revenue from Services RenderedRevenue From Operations
(iii) Interest EarnedOther Income
(iv) Gain (profit) on Sale of AssetsOther Income
(v) Purchases of Stock-in-TradePurchases of Stock-in-Trade
(vi) Salaries and WagesEmployees Benefits Expenses
(vii) Interest paid to a bankFinance Costs
(viii) Carriage OutwardOther Expenses

To understand more about Balance Sheet please check out following links:

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Balance Sheet: Meaning, Format & Examples

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Also, Check out the solved question of previous Chapters: –

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)

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

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

Question 1 Chapter 1 of +2-B
T.S. Grewal’s Analysis of Financial Statements

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