Do we do adjustments given in the same way in income statement in the way we do in profit and loss a/c in the horizontal format?
Dear Student
Yes adjustments are done in the same way in Income statement as we do in Profit and Loss account, Only difference is in presentation part, i.e In income statement some items are shown in Notes and cumulative total is shown in income statement whereas in profit and loss account all items are shown in profit and loss account itelf.
Regards
Yes adjustments are done in the same way in Income statement as we do in Profit and Loss account, Only difference is in presentation part, i.e In income statement some items are shown in Notes and cumulative total is shown in income statement whereas in profit and loss account all items are shown in profit and loss account itelf.
Regards