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Final Accounts Vertical Format

The income statement shows the company generated £XXX in revenue and £XXX in gross profit for the year ended 31 December Year 1. Total expenses were £XXX, resulting in a profit of £XXXX. The statement of financial position indicates the company has £XXXXX in total assets, including £XXXXX in non-current assets and £XXXX in current assets as of 31 December Year 1. Total equity and liabilities are also £XXXXX, consisting of £XXXX in capital and reserves and £XXX in non-current liabilities, along with £XXX in current liabilities.

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1K views2 pages

Final Accounts Vertical Format

The income statement shows the company generated £XXX in revenue and £XXX in gross profit for the year ended 31 December Year 1. Total expenses were £XXX, resulting in a profit of £XXXX. The statement of financial position indicates the company has £XXXXX in total assets, including £XXXXX in non-current assets and £XXXX in current assets as of 31 December Year 1. Total equity and liabilities are also £XXXXX, consisting of £XXXX in capital and reserves and £XXX in non-current liabilities, along with £XXX in current liabilities.

Uploaded by

jenna
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
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Company Name

Income Statement
for the year ended 31 December Year 1

Revenue ( Sales - Sales Returns - Discounts Allowed )


XXX
Less Cost of Sales
Opening Inventory
XX
Add Purchases ( P - PR - DR + CI )
XX
Less Closing Inventory
(XX)
(XX)
Gross Profit
XXX
Less Expenses
Wages
XX
Carriage Outwards
XX
Bad Debts
XX
Depreciation:
- Equipment
XX
- Vehicle
XX
XX
(XXX)
Add Other Incomes
Commission Receivable
XX
Interest Receivable
XX
XX
Profit for the year
XXXX

Company Name
Statement of Financial Position
As at 31 December Year 1
Cost

Non-current Assets
Freehold Premises
Motor Vehicle
Fixtures and Fittings
Total Non-current Assets

XXXX
XXX
XXX
XXXX

Current Assets
Inventory
Trade Receivables
Other Receivables
Bank
Cash
Total Assets

Accumulated
Depreciation

XXXX
(XX)
XXX
(XX)
XXX
(XXX) XXXXX

XXX
XXX
XXX
XX
XX
XXXX
XXXXX

Capital
Opening Capital
Add Profit for the year
Less Drawings
Closing Capital
Non-current Liabilities
Bank Loan
Current Liabilities
Trade Payables
Other Payables
Bank Overdraft
Total Equity and Liablities

Carrying
Amount

XXXX
XXX
XXXX
(XX)
XXXX
XXX
XXX
XXX
XX

XXX
XXX
XXXXX

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