Which of the following would not appear in the profit and loss account? (2024)

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Trading & Profit or Loss Account

Which of the ...

Question

Carriage Inwards

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Rent received

No worries! We‘ve got your back. Try BYJU‘S free classes today!

The correct option is D
Capital
Capital appears in balance sheet only and not in profit & loss account.

Suggest Corrections

See Also

Understanding Income Statements

Q. Given the following data:
Gross profit Rs.6,700; Carriage Inwards Rs.250; Commission received Rs.575 and other expenses Rs.3,600. The net profit of the firm would be:

Q. Classify the following into Assets, Liabilities, Capital, Revenue, and Expenses:

(i) Plant and Machinery;	(ii) Bank Loan;	(iii) Sales;	(iv) Rent;
(v) Discount Received;	(vi) Carriage Inwards;	(vii) Carriage outwards;	(viii) Purchases;
(ix) Bills Payable;	(x) Wages;	(xi) Advance Income;	(xii) Accrued Income;
(xiii) Goodwill;	(xiv) Furniture and Fixtures;	(xv) Outstanding Expenses;	(xvi) Capital.

Prepare Trial Balance from the following information:

Capital Rs.50,000; Bank Loan Rs.20,000; Trade payables Rs.18,000; Rent outstanding Rs.4,000. Capital reserve Rs.5,000; Commission received Rs.3,000; Bad debts Rs.5,000. Plant & Machinery Rs.60,000; Goodwill Rs.16,000; Carriage inwards Rs.2,500; Carriage outwards Rs.1,500; Trade Receivables Rs. 10,000; Profit and Loss (Dr.) Rs.5,000.

Q. Carriage Inwards is shown in the statement of profit and loss under ___________ .

The following is the Trial Balance of Mr. Deepak as on March 31, 2017. You are required to prepare trading account, profit and loss account and a balance sheet as on date:

Account title	Debit Amount Rs	Account title	Credit Amount Rs
Drawings	36,000	Capital	2,50,000
Insurance	3,000	Bills payable	3,600
General expenses	29,000	Creditors	50,000
Rent and taxes	14,400	Discount received	10,400
Lighting (factory)	2,800	Purchases return	8,000
Travelling expenses	7,400	Sales	4,40,000
Cash in hand	12,600
Bills receivable	5,000
Sundry debtors	1,04,000
Furniture	16,000
Plant and Machinery	1,80,000
Opening stock	40,000
Purchases	1,60,000
Sales return	6,000
Carriage inwards	7,200
Carriage outwards	1,600
Wages	84,000
Salaries	53,000

Closing stock Rs 35,000.

Join BYJU'S Learning Program

Which of the following would not appear in the profit and loss account? (2024)

The correct option is DCapitalCapital appears in balance sheet only and not in profit & loss account.

References

The correct option is D
Capital
Capital appears in balance sheet only and not in profit & loss account.