Question

How to prepare final accounts

Answer 1

Answer:

hey mate here is your answer

Explanation:

Final accounts is a big concept of account

In final account we make two accounts and one statement

Acoounts are Trading Accounts and Profit & loss account

Statement is Balance sheet

On trading account we are records Direct expences and Direct Incomes

and on profit & loss accounts we are records Indirect expenses and indirect income

and on balance sheet we are records assets and liblity

Answer 2

to prepare final accounts you must know trading account and P&L a/c and then balance sheet, also the postings