Question

Where will fuel and power will go in final account

Answer 1

Answer:

fuel and power will go in trading account in debit side.

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Explanation:

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Answer 2

In the final account, fuel and power will go into the trading account on the debit side.

Final Account:

• It is prepared to find the profit and financial position of the business

• It is prepared at the end of the financial year to know the profit
• In this type of account, we know the information about the investors and creditors of the business
• We make a trading account which is included in this account and we make adjustments in this account
• It contains profit and loss account and balance sheet in which we get knowledge about all the assets and liabilities