What are the entries to be passed for Preparing final accounts?

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For preparing final accounts i.e.closing of books the following entries need to be passed: Provision for outstanding expenses/income, Prepaid expenses/income, Provision of taxes, calculation of depreciation as per Companies Act, Provision of doubtful debts,if any, Provision of contingencies, (remuneration...
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For preparing final accounts i.e.closing of books the following entries need to be passed: Provision for outstanding expenses/income, Prepaid expenses/income, Provision of taxes, calculation of depreciation as per Companies Act, Provision of doubtful debts,if any, Provision of contingencies, (remuneration to partners, interest on drawings/capital if it is a partnership firm). read less
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M com

all entries pertaining to current financial year which are not in trial balance and given in adjustments.
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MBA(Finance)

Final a/c have basic three a/c trading,p&l and balance sheet. First u need to prepare trading a/c by which gross profit or gross loss will be calculated. After that u have to prepare p&l a/c by which net profit or net loss calculated. Last u have to prepared balance sheet of the company.
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