company accounts 0.0 / 5 ? Business Studiescompany accountsGCSECCEA Created by: catherine199Created on: 08-06-16 16:29 summarises income and details the profit/losses made by a business in the accounting period income statement 1 of 11 income earned in the accounting period from trading activities sales revenue 2 of 11 opening inventories+purchases-closing inventories costofsales 3 of 11 sales revenue- cost of sales grossprofit 4 of 11 gross profit - expenses netprofit 5 of 11 details in summary format, the financial position of the business sofp 6 of 11 items of value held by a business which is likely to generate future income assets 7 of 11 liabilities that the business expects to pay within aone year accounting period currentliabilities 8 of 11 the value of funds within the business which can be attributed to the owner/s equity 9 of 11 a proportion of a company profits paid to the owners shares in a particular company. dividend 10 of 11 money introduced into the business through the sale of shares sharecapital 11 of 11
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