Question

Lighting and electricity where it will go in final accounts???
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Please,ans the above que :)​

Answer 1

Explanation:

Trading and Profit & Loss A/c is prepared by traders and not by manufacturers. Therefore, factory does not come into the picture anywhere.

Trading and Profit & Loss A/c is prepared by traders and not by manufacturers. Therefore, factory does not come into the picture anywhere.Having said that, let us focus on the problem. Trading Account shows the gross profit from business. In loose terms, it is opening balance of stock + purchases - sales - closing stock. Any expense incurred on carriage inwards etc is also considered here.

Trading and Profit & Loss A/c is prepared by traders and not by manufacturers. Therefore, factory does not come into the picture anywhere.Having said that, let us focus on the problem. Trading Account shows the gross profit from business. In loose terms, it is opening balance of stock + purchases - sales - closing stock. Any expense incurred on carriage inwards etc is also considered here.=> Only direct revenue and direct expenses sre considered here.

Trading and Profit & Loss A/c is prepared by traders and not by manufacturers. Therefore, factory does not come into the picture anywhere.Having said that, let us focus on the problem. Trading Account shows the gross profit from business. In loose terms, it is opening balance of stock + purchases - sales - closing stock. Any expense incurred on carriage inwards etc is also considered here.=> Only direct revenue and direct expenses sre considered here.All miscelleneous income and other indirect expenses goes into Profit & Loss Account.

Trading and Profit & Loss A/c is prepared by traders and not by manufacturers. Therefore, factory does not come into the picture anywhere.Having said that, let us focus on the problem. Trading Account shows the gross profit from business. In loose terms, it is opening balance of stock + purchases - sales - closing stock. Any expense incurred on carriage inwards etc is also considered here.=> Only direct revenue and direct expenses sre considered here.All miscelleneous income and other indirect expenses goes into Profit & Loss Account.=> Electricity and Telephone expenses comes under P & L A/c.

Answer 2

Lighting and electricity are recorded in the profit and loss statement.

• Lighting and electricity costs are often included in the operating expenditures or indirect expenses portion of the income statement or profit and loss statement in the final accounting.
• Lighting and electricity costs would be classified as utilities and included in the P/l statement.
• The net income or the overall gain for the period can be computed by subtracting the total operating costs from the total revenue.
• A financial statement called an income statement lists a firm's sales, expenses, and net income for a specific accounting period.
• Together with the balance sheet and cash flow statement, it is one of the last accounts created at the conclusion of the accounting period.

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