Income and expenditure account generally show

1.	Income and expenditure account generally show
Answer» ong>Answer: the income and expenditure account is a SUMMARY of all ITEMS of income and expenses which RELATE to the ongoing accounting year. it is prepared with objective of finding out surplus or deficits ARISING out of current income over current ASSETS.

Answer»

ong>Answer:

the income and expenditure account is a SUMMARY of all ITEMS of income and expenses which RELATE to the ongoing accounting year. it is prepared with objective of finding out surplus or deficits ARISING out of current income over current ASSETS.

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Tois question based GISTBasie Prodquet? Gust Sales SupplyАB 2200150800118.00 to 20018.001 300 Intre statoI istrustile12.00 lo1120 Istrestaleb.Tabb Trade Details (sales and purchaseJitems opening stat I purchased sold closingo0104803oa) find out belowgiveoQuestionsCGST ,SGST , LGST final balance?1. use different lable for saleand purchas drade.Neft profit from the trade?closing stock valuations ?

Income and expenditure account generally show​

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Income and expenditure account generally show