Income statement

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Created by: josief95
Created on: 13-12-15 13:02

Number of columns along top axis

3 - £ £ £

1 of 10

First heading with figure

Sales

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Second Heading no figure; followed by....

Less: Cost of sales; Opening Inventory; Add purchases; Less: Closing inventory; Gross profit

3 of 10

Third heading

Salaries; Van expenses; Van insurance (1200 x 3/6)

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Third heading

Rent & Rates; Heat & Light; Accrual (720 x 1/3)

5 of 10

Bad debts included

Yes after accruals

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[Final Subheading] Depreciation expense:

Equipment (percentage x price); Vans (percentage x price);Loan & Bank interest (percentage x price)

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Final result:

Net profit

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Totals:

Gross profit after Sales and Cost of sales & Net profit at the end

9 of 10

Advising how amount charged for loan and bank interest could be reduced

Arrange loan instead of over draft; incerase sales; reduce drawings; new loan or O/D at lower rate

10 of 10

Other cards in this set

Card 2

Front

First heading with figure

Back

Sales

Card 3

Front

Second Heading no figure; followed by....

Back

Card 4

Front

Third heading

Back

Card 5

Front

Third heading

Back

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Income statement