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  • Financial Statement

    Diunggah oleh

    Yi Lin
    16 tayangan3 halaman
    Statement of Profit or Loss and Statement of Financial Position are used by accountants to show an organization's financial activities during the end of accounting period. Statement of Profit or Loss are used to determine the Gross Profit or Loss and Net Profit or Loss. The Statement of Financial Position are used to show the financial position of an entity at a given date.

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    Statement of Profit or Loss and Statement of Financial Position are used by accountants to show an organization's financial activities during the end of accounting period. Statement of Profit or Loss are used to determine the Gross Profit or Loss and Net Profit or Loss. The Statement of Financial Position are used to show the financial position of an entity at a given date.

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    16 tayangan3 halaman

    Financial Statement

    Diunggah oleh

    Yi Lin
    Statement of Profit or Loss and Statement of Financial Position are used by accountants to show an organization's financial activities during the end of accounting period. Statement of Profit or Loss are used to determine the Gross Profit or Loss and Net Profit or Loss. The Statement of Financial Position are used to show the financial position of an entity at a given date.

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    © All Rights Reserved
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    Financial Statement

    A summary report that provide by accountants to show an organizations financial activities during the
    end of accounting period. The accountant will prepare two important statement which are Statement
    of Profit or Loss and Statement of Financial Position. Statement of Profit or Loss (SPL) are used to
    determine the Gross Profit or Loss and Net Profit or Loss. Statement of Financial Position (SFP) are
    used to show the financial position of an entity at a given date.

    Statement of Profit or Loss of ABC Enterprise for the year ended 30 April 2015
    RM
    Sales

    RM
    130000

    Less: Return inwards

    3500

    Net Sales
    Less:

    RM

    126500

    Cost of goods sold


    Opening Inventories
    Purchases
    Less: Returns outwards

    46000
    87000
    1500
    85500

    Add: Carriage inwards

    2300
    87800

    Less: Closing Inventories


    Gross Profit
    Add:

    (41800)
    84700

    Income
    Rent received

    5000
    89700

    Less:

    Expenditure

    Salaries

    8000

    Insurance

    900

    Depn: motor vehicles

    8000

    Depn: Office equipment

    5000

    Net Profit

    21900
    67800

    Statement of Financial Position of ABC Enterprise as at 30 April 2015


    RM

    RM

    RM

    Non-current assets
    Motor vehicles

    80000

    Less: Accumulated depreciation

    8000

    Office equipment

    72000

    50000

    Less: Accumulated depreciation

    5000

    45000
    117000

    Current assets
    Inventories

    42000

    Trade receivables

    9000

    Bank

    23000

    Cash

    5000
    79000

    Less: Current Liabilities


    Trade Payables

    30000

    Overdraft

    17000

    47000
    32000

    149000
    Equity
    Capital as at 1 May 2014
    Add: Net Profit

    111200
    67800
    179000

    Less: Drawings
    Capital as at 31 April 2015

    50000
    129000

    Non-current Liabilities
    Loan

    20000
    149000

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