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Business Studies :Trading profit loss a/c

ciang · 2015-06-06 18:43:01

For the trading loss profit account can you put dues and expenses in like this (out teacher taught us this way): Wages(100-20) 80 or do you only get marks for it this way: wages 100 wages due 20 80

06-06-2015 6:43pm

#1

ciang

Registered Users, Registered Users 2 Posts: 14 ✭

Join Date: February 2014

Posts: 8

For the trading loss profit account can you put dues and expenses in like this (out teacher taught us this way):

Wages(100-20) 80

or do you only get marks for it this way:

wages 100

wages due 20 80

0

Comments

#2 07-06-2015 7:23pm

spicebag

Registered Users, Registered Users 2 Posts: 3 ✭

Join Date: June 2015

Posts: 3

My business teacher always said the first column was for calculations, so i would do it like i did below, as far as i know there are marks rewarded for the calculations, even if there isn't there's no harm in showing them in case you make an error. I don't know if you get marks the way you're writing it, you might but i'm positive you get marks my way!

Wages |100|
Wages due | 20 | | 120 |

Good Luck and make sure you know how the adjustments are entered into the balance sheet!

0