Question

where is godown rent placed in final accounts​

Answer 1

Answer:

godown rent is expens.

Incomes and expenditures are belongs to nominal account.

In this rule all incomes are credited and all expenses are debited

so godown rent is debited and shown in profit and loss a/c.

Answer 2

Answer:

Godown rent place in final account is shown in Profit and Loss account. A financial statement known as a profit and loss (P&L) statement is one that lists all of the receipts, payments, and outlays made over a given time period, typically a quarter or fiscal year.

These records reveal if a business is able to increase income, cut expenditures, or do both in order to turn a profit. P&L statements are frequently displayed using the cash or accrual method. P&L statements are used by managers of companies and investors to assess a company's financial standing. Along with the balance sheet and the cash flow statement, every publicly traded company is required to release three financial statements on a quarterly and annual basis. One of these three is the P&L statement. This can be conclude that, In a business strategy, it is frequently the most widely used and prevalent financial statement because it demonstrates the amount of profit or loss.

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