Presentation accountz financial stat

Presentation accountz financial stat

• 1.
  RM RM XXXXXX XX XX XXXXXX XX XX XXXXXX XX XX XXXXXX XX XX XX XX
• 2.
  PREPARED BY
• 3.
  Mrs Salsabila INCOME STATEMENT FOR THE YEAR ENDED 30 JUNE 2007 RM RM RM Sales 130870 Less: Cost of Goods sold Opening Stock 12290 (+)Purchases 80300 (+)Carriage Inwards 1 1121 Cost of sales 93711 (-)Closing Stock -15350 Cost of goods sold 78361 Gross Profit 52509 Less: Other Expenses Rent, Rates and Insurance 2 1956 Postage and Stationery 1003 Advertising 330 Salary & Wages 24602 Bad Debts 787 Increases in doubtful debt 3 29 Depreciation - fixtures & fittings 4 1800 Carriage 1 4019 -34526 Net Profit 17983
• 4.
  1.Carriage Trial balance 5140 v. Carriage inwards 1121 Carriage outwards 4019 Carriage inwards 1121 >>in trading Carriage outwards 4019>> in income
• 5.
  2. Rent ,Rates and Insurance Trial balance 2662 ii. Prepaid rates ( 808) iii. Rent accruals 102 Expense 4 d year 1956 In income stat >> 1956 Balance sheet >> assets >>808(prepaid rates) liability >> 102(rent accruals)
• 6.
  3. Doubtful Debt Trialbalance 301 vi. Increase to 330 Expense 4 d year 29 In income stat >> 29 as expenses In balance sheet>> 330 as provision
• 7.
  4.Depreaciation Cost fixtures 18000 Depct10% = 1800 This year depreciation >>> 1800 Last year >>>2050 So In income stat >> 1800 In balance sheet >>3850
• 8.
  Mrs Salsabila BALANCE SHEET AS AT 30 JUNE 2007 Fixed Assets Cost Depcr NBV Fixtures & fittings 4 18000 -3850 14150 Current Assets : Trade Debtors 11102 (-)Provision for doubtful debt 3 -330 10772 Bank 1000 Cash 77 Stock 15350 Prepaid rates 2 808 28007 Less: Current Liabilities : Trade Creditors 7460 Rent accrual 2 102 -7562 WORKING CAPITAL 20445 34595 Financed by ;- Capital 25312 Net profit 5 17983 43295 (-)drawings -8700 34595