Fill in the blank:i. Gross Profit is transferred to _________account.

1.	Fill in the blank:i. Gross Profit is transferred to _________account.ii. Debit Balance of Trading Account indicates __________iii. Income Receivable appears on ________side of Balance Sheet.iv. Interest on Bank Loan is debited to _______A/c.v. Profit and Loss account is prepared to find out _______ results of the business.
Answer» i. Profit and Loss A/c ii. Gross Loss iii. Asset iv. Profit and Loss A/c v. Net Working

Fill in the blank:i. Gross Profit is transferred to ___account.ii. Debit Balance of Trading Account indicates iii. Income Receivable appears on side of Balance Sheet.iv. Interest on Bank Loan is debited to _A/c.v. Profit and Loss account is prepared to find out _____ results of the business.

Answer»

i. Profit and Loss A/c

ii. Gross Loss

iii. Asset

iv. Profit and Loss A/c

v. Net Working