Postage and telegram should be posted in which account or balance sheet in final accounts
Answers
Answer:
Postage and Telegram Exp is a Indirect Exp for Firm or Company.
Therefore, it shown on the debit side of P&L account.
Expense also shown on debit side of profit and loss account.
Explanation:
Postage and telegram should be posted on the debit side of Profit and Loss account.
A profit and Loss Account is a sort of budget report which mirrors the result of business exercises during a bookkeeping period. Announced pay and costs are straightforwardly connected with an association's are considered to gauge the exhibition as far as benefit and misfortune. The actual motivation behind the profit & loss account is to find out whether the business is creating profit & loss for a given period. All in all, the Profit and Loss Account uncovers cash spent or cost brought about in an association's work to produce income, addressing the expense of carrying on with work.