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Question

Under which major head of the Statement of Profit and Loss of a Company following items will appear :

(i) Bonus

(ii) Revenue from Services rendered

(iii) Internet Expenses

(iv) Materials Purchased

(v) Discount on Issue of Debuntures written off

(vi) Goodwill Amortized.

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Solution

ItemMajor Head(i)BonusEmployee Benefit Expenses(ii)Revenue from Services renderedRevenue from Operations(iii)Internet ExpensesOther Expenses(iv)Materials PurchasedCost of Materials Consumed(v)Discount on issue of Debentures writtenFinance Costsoff(vi)Goodwill AmortizedDepreciation and Amortization Expenses


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