Following items are included in the credit side of profit and loss account
1. Gross Profit
Gross profit is transferred from trading account and it is the beginning item of profit and loss account.
2. Non-trading Income
Interest received from bank,incomes received from outside investments like share and debenture are known as non-trading incomes. These kind of incomes are recorded in the credit side of profit and loss account.
3.Other incomes
Those incomes other than income from sale of goods are called other income. Discounts or commission received are the examples of other income.