Question

could u please tell me how to do p and l a/c​

Answer 1

Answer:

p&l ac always come after the depreciation ac

for example

A machine purchase for rs10000 at 10%depriciation by SLM

the entries will be

machinery ac dr 10000

to bank 10000

at the end of year

depreciation ac dr 1000

to machinery 1000

P&L ac dr 1000

to depreciation 1000

may this help u