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20181583 Untitled Document

The Statement of Profit or Loss for the year ending 30 September 2017 shows total sales of $254,810 and net sales of $252,700 after returns. The total cost of goods sold is $28,970, resulting in a gross profit of $221,430. After accounting for various expenses, the net profit for the year is $117,497.

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3 views

20181583 Untitled Document

The Statement of Profit or Loss for the year ending 30 September 2017 shows total sales of $254,810 and net sales of $252,700 after returns. The total cost of goods sold is $28,970, resulting in a gross profit of $221,430. After accounting for various expenses, the net profit for the year is $117,497.

Uploaded by

jestina
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Statement of Profit or Loss for year ending

30 September 2017

Sales/Revenue $254,810
Return Inwards ($2110)
Net Sales $252,700
Cost of Goods Sold
Opening Inventory $72,410
Purchases $451,116
Carriage Inwards $760
Return Outward $2,012
Closing Inventory $89,404
Total Cost of Sale $28,970
Gross Profit $221,430

Expenses
Rent $9,045
Telephone Charges $3,680
Wages and Salaries $42,500
Insurance $2,300
Office Expenses $392
Sundry Expense $2,712
Interest Received $575
Motor Expense Mortgage $103,933
Total Expenses $
Net Profit or Loss $117,497

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