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.

Answer 1

$\begin{array}{ccc}& \text{Item}& \text{Major Head}\\ \text{(i)}& \text{Bonus}& \text{Employee Benefit Expenses}\\ \text{(ii)}& \text{Revenue from Services rendered}& \text{Revenue from Operations}\\ \text{(iii)}& \text{Internet Expenses}& \text{Other Expenses}\\ \text{(iv)}& \text{Materials Purchased}& \text{Cost of Materials Consumed}\\ \text{(v)}& \text{Discount on issue of Debentures written}& \text{Finance Costs}\\ & \text{off}& \\ \text{(vi)}& \text{Goodwill Amortized}& \text{Depreciation and Amortization Expenses}\end{array}$