Statement of Profit or Loss Account for the year ended 31 Dec ….
Sales / Turnover xxxxxx
Less : Sales return/Return inward (xx)
Discount allowed (xx)
Net Sales xxxxxx
Less : Cost of Goods Sold
Opening stocks xxx
+ Purchases xxx
+ duty import xxx
+ insurance on purchases xxx
+ carriage inward xxx
- Return outward (xx) xxx
- Closing stocks (xxx) (xxxxx) cogs
GROSS PROFIT xxxxx
Add: Revenues/Other Income
Commission received xx
Rental Received xx
Dividend received xx
Interest received xx
Discount Received xx xxxxxx
xxxxxx
LESS: EXPENSES
Wages and salaries xx
Insurance xx
Rent xx
Interest xx
Carriage outwards xx
Advertising xx
Utilities xx
Sationeries xx
General Expenses xx
Bad Debt xx
Depreciation: xx
Motor van xx
Furniture and Fitting xx (xxx)
Net Profit xxx
Statement of Financial Position as at 31 Dec …
Non Current Assets Cost Acc. Depr NBV/Carrying Value
Land and Building xxx - xxx
Motor vehicles xxx (xxx) xxx
Office equipmnt xxx (xxx) xxx
Machinery xxx (xxx) xxx
Fixtures and fitting xxx (xxx) xxx
xxxxxxx
Intangible Assets
Goodwill xx
Patent xx
Copyright xx xxxx
Investments
Fixed Depsodit BIMB xx
Shaes in Celcomm Bhd xx xxx
Current Assets
Cash xx
Bank xx
Account Receivables xx
Inventories xx
Prepaid expenses xx xxx
XXXXX
Financed By
Owners's equity
Capital xx
+ Net Profit xx
- drawing (xx) xxxx
Non Current Liabilities
Long term loan xx
Mortgage xx xxxx
Current Liabilities
Bank overdraf xx
Account Payable xx
Accrued Expenses xx
Revenue received in advance xx xxxx
xxxxxx
Statement of Profit or Loss Account for the year ended 30 June 2018
Sales / Turnover 323,625
Less : Sales return/Return inward (2,700)
Discount allowed (4,000)
Net Sales 316,925
Less : Cost of Goods Sold
Opening stocks 23,000
+ Purchases (180500 - 450) 180,050
+ duty import 500
+ insurance on purchases
+ carriage inward 1,900
- Return outward (2,700) 179,750
- Closing stocks 17,000 185,750
GROSS PROFIT 131,175
Add: Revenues/Other Income
Commission received 400
Rental Received
Dividend received
Interest received
Discount Received (6525 - 1500) 5,025 5,425
136,600
LESS: EXPENSES
Wages and salaries (57070 - 5000) 52,070
Insurance (12100 - 1100) 11,000
Rent
Interest on loan (1250 + 3750) 5,000
Carriage outwards 2,500
Advertising (2,200 + 1000) 3,200
Utilities 4,700
Printing &Sationeries 5,000
General Expenses
Bad Debt 200
Depreciation:
Motor vehicle (10% x 38k) 3,800
Furniture and Fitting (20% x (32700 -11500) 4,240
Telephone (2900 + 3000) 5,900
Commission (6700 + 3000) 9,700
Increase in AFDD 203 107,513
Net Profit 29,087
Statement of Financial Position as at 31 Dec …
Non Current Assets Cost Acc. Depr NBV/Carrying Value
Land and Building 307,300 - 307,300
Motor vehicles 38,000 (15,200) 22,800
Office equipmnt
Machinery
Fixtures and fitting 32,700 (15,740) 16,960
347,060
Current Assets
Cash -
Bank (21000 - 5000-2500) 13,500
Account Receivables (10300 -200) 10,100
Less :AFDD (303) 9,797
Inventories 17,000
Prepaid insurance 1,100
Discount received in adv 1,500
Prepaid wages and salary 5,000 47,897
394,957
Financed By
Owners's equity
Capital 300,270
+ Net Profit 29,087
- drawing (450 + 5000) (5,450) 323,907
Non Current Liabilities
Loan from CIMB 50,000 50,000
Current Liabilities
Bank overdraf -
Account Payable 8,200
Accrued Telepone Exp 3,000
Accrued Comm Exp 3,000
Accrued advertising 1,000
Accrued int on loan 3,750 18,950
392,857 2,100
