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Trading, Profit & Loss Account & Balance Sheet Explained|
💡 Confused about how to prepare Final Accounts? Watch this lecture and you’ll say — “Accounting is Easy!”
📘 Based on T.S. Grewal Volume 1 – Illustration No. 8, this video explains every step clearly — from Trading Account to Profit & Loss Account, Appropriation Account, and Balance Sheet in the simplest way possible!

Welcome to Lecture No. 13 of our Class 12 Accountancy Video Series based on T.S. Grewal Volume 1!
In this session, we’ll solve Illustration No. 8 in a very simple and conceptual way so that every commerce student can easily understand how to prepare Trading Account, Profit & Loss Account, Profit & Loss Appropriation Account, and finally the Balance Sheet.

This lecture is specially designed to make you feel confident while preparing final accounts, as we explain each part — from gross profit to balance sheet — in a step-by-step and logical sequence.

📘 What You’ll Learn in Lecture 13:

🔹 Trading Account Explained in Simple Terms:
Understand trading account kya hota hai, its purpose, and how to make trading account in accounting. You’ll learn the complete trading account format, what items are debited and credited, and how to calculate gross profit or gross loss with clear examples.

🔹 Profit and Loss Account Made Easy:
After preparing the trading account, we move on to the profit and loss account. Here, you’ll learn how to make profit and loss account, profit and loss account format, and how to prepare trading and profit and loss account together.
We’ll also discuss profit and loss appropriation account class 12, its meaning, and its format as per the CBSE Class 12 syllabus.

🔹 Appropriation Account Simplified:
Understand profit and loss appropriation account kaise banate hain, what entries are made for partners’ salary, interest on capital, and profit sharing ratio.

🔹 Balance Sheet Explained in Hindi:
In the final part, you’ll learn how to make balance sheet, balance sheet kaise banate hain, and balance sheet kya hota hai in accounting.
We’ll also cover balance sheet analysis, balance sheet format, and how to read balance sheet of company and financial statements of a company easily.
This lecture gives you balance sheet explained in detail and in Hindi, using simple terms for complete conceptual clarity.

💡 Concepts Covered in This Lecture:

Trading Account Meaning and Format

How to Calculate Gross Profit and Net Profit

Profit and Loss Account Preparation

Profit and Loss Appropriation Account Format

How to Make a Balance Sheet Step by Step

Balance Sheet Analysis and Understanding Financial Statements

📈 By the End of This Video, You’ll Be Able To:
✅ Prepare Trading Account, Profit and Loss Account, and Balance Sheet on your own
✅ Understand how to read financial statements of a company
✅ Know the difference between trading account and profit & loss account
✅ Get full clarity on final accounts as per T.S. Grewal Class 12

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🎯 Who Should Watch This Lecture:

Class 12 Commerce Students (CBSE / State Boards)

Students following T.S. Grewal Volume 1

Students preparing for board exams or quick revision

Anyone who wants to clearly understand Trading Account, Profit & Loss Account, and Balance Sheet

📢 Don’t Miss:
Watch this video till the end to get complete conceptual clarity on how Final Accounts are prepared in accounting.

📌 Subscribe for more such simplified and exam-oriented lectures for Class 12 Accounts.
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