What is Profit & Loss Account?

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He decides to form his own company ‘Rocket Sales Corporation’ while continuing to work in his current company.

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Harpreet Singh is recording all expenses related to paper, printer cartridges, electricity, phone calls, ink, etc.

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This account depicts the income and expenses of the company

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It is also called the Income Statement

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What is Profit & Loss Account?

He decides to form his own company ‘Rocket Sales Corporation’ while continuing to work in his current company.

He decides to form his own company ‘Rocket Sales Corporation’ while continuing to work in his current company.

Harpreet Singh

Harpreet Singh is recording all expenses related to paper, printer cartridges, electricity, phone calls, ink, etc.

This account depicts the income and expenses of the company

He is doing this to prepare profit & loss account.

It is also called the Income Statement

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