Book Keeping Question 1 and Answers

Institution: College

Course: Book Keeping

Content Category: eBooks

Posted By: kennjoga

Document Type: PDF

Number of Pages: 3

Price: KES 100
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Summary

This will appear on the first question on book keeping.

Brief Overview:

Income Statement (Profit & Loss Account)
It discloses operating results of an organization by comparing revenue or income to expenses/cost/expenditure to establish whether operational resulted into profit or loss for the period ended.
Example
You work as an accountant in Amboseli institute and the following trial balance has been extracted on 28th February 2014.
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