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Trading Account | Meaning | Format | Examples | Quiz …
WEBQuiz. Meaning & Overview. A trading account is used to record the sale and purchase of goods/services. This temporary account closes at the …
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WEB1. Trading Account. Trading account is used to determine the gross profit or gross loss of a business which results from trading activities. Trading activities are mostly related to the buying and selling activities …
Trading Profit and Loss Account | Double Entry …
WEBSep 29, 2022 · The trading account is the top part of the trading profit and loss account and is used to determine the gross profit. The profit and loss account is the lower part of the trading profit and loss account and is …
Trading Account Format - Examples and Advantages
WEBTrading account is a statement which is prepared by a business firm. It shows the gross profit of business activities during a specific period. It is a part of the final accounts of the entity. In other words, the trading …
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Beginner-Trading account, profit and loss account
WEBDR Trading account or Profit & Loss Account. CR Expense Account (i.e close the respective expense account) The following illustration will help demonstrate how to prepare the both trading, profit and loss account …
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