State any five items to be shown on debit side of ‘Trading Account�

1.	State any five items to be shown on debit side of ‘Trading Account’ and any five items to be shown on debit side of ‘Profit & Loss Account’.
Answer» Items to be shown on the debit side of Trading Account: (i) Opening Stock (ii) Purchases (iii) Direct Expenses (iv) Gross Profit (v) Sales Return Items to be shown on the debit side of Profit & Loss Account: (i) Gross Loss (ii) Net Profit (iii) Indirect Expenses (iv) Depreciation (v) Loss on sale of fixed assets

State any five items to be shown on debit side of ‘Trading Account’ and any five items to be shown on debit side of ‘Profit & Loss Account’.

Answer»

Items to be shown on the debit side of Trading Account:

(i) Opening Stock

(ii) Purchases

(iii) Direct Expenses

(iv) Gross Profit

(v) Sales Return

Items to be shown on the debit side of Profit & Loss Account:

(i) Gross Loss

(ii) Net Profit

(iii) Indirect Expenses

(iv) Depreciation

(v) Loss on sale of fixed assets

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State any five items to be shown on debit side of ‘Trading Account’ and any five items to be shown on debit side of ‘Profit &amp; Loss Account’.

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State any five items to be shown on debit side of ‘Trading Account’ and any five items to be shown on debit side of ‘Profit & Loss Account’.