Trading, profit and loss account
Business Studies J.S.S 3 Second Term
WEEK 8
Trading, profit and loss account
Performance Objectives
Students should be able to:
1. State the purpose of trading, profit and loss accounts.
2. Calculate the cost of goods sold.
3. Determine net sales.
4. Determine net profit or loss and gross profit.
5. Outline the rules for the construction of a simple Profit and Loss account.
Content
Purpose of trading, profit and loss account
The purpose of the profit and loss account is to:
Subscribe now to gain full access to this lesson note
Take Me ThereClick here to gain access to the full notes.
- Revision of last terms question paper
- Consumer protection agency
- How to seek redress
- How to make complaints
- Personal finance
- Business Studies JSS3 Second Term Mid-Term Assessment
- Test
- Forms of trial balance
- Trial balance
- Trading, profit and loss account
- Balance sheet
- Business letters
- Business Studies JSS3 Second Term Final Assessment
- Test
- Chapters 12
- Category JSS3
- Author ClassNotes Edu
For Schools & Teachers
For Schools and Teacher who want to subscribe to all of the subjects, a class or term at a discounted price.
Order Now
Create Your Bundle
Need many subjects? Waste no time. Select many subjects together in one subscription at a discounted price.
Create Bundle