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Accounting & Finance
 Online Tutoring : Forum : Homework Help - Economics & Business Studies : Accounting & Finance
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Sal_vx
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Joined: 14 November 2006
Location: Maldives
Posts: 1
Posted: 14 November 2006 at 7:55pm | IP Logged Quote Sal_vx

what is company account format on Profit & Loss Account and Balance Sheet?

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Skoty445
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Joined: 25 November 2006
Location: Australia
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Posted: 25 November 2006 at 11:24pm | IP Logged Quote Skoty445

What do you mean?

In what way are the accounts setup?

Example: Profit & Loss

Income      2000

Less Expenses  500

Gross Profit     1500

Less Interest paid  (ie loan) 400

Less Tax   600

Net Profit       500

 

Example: Balance Sheet

Current Assets

Non-Current Assets

Total Assets   (say 5000)

Current Liablitites

Non-Current Liablities

Total Liablilites  (say 3000)

Shares/capital

Total Equity (2000)

A = L+ E

 

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