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    ACC 1112 Format Sole Trader

    Uploaded by

    Tran Tan Trong Hieu
    The document provides a financial statement with information about a company's profit and loss for the year ending December 31st, 20XX. It includes sales revenue, costs of goods sold, other income, and expenses to calculate the net profit or loss. It also contains a statement of financial position as of XXXX, listing current assets like cash, debtors, inventory and non-current assets. It details current liabilities such as creditors and loans, non-current liabilities, and owner's equity including capital, net profit/loss, and drawings.

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    ACC 1112 Format Sole Trader

    Uploaded by

    Tran Tan Trong Hieu
    63 views3 pages
    The document provides a financial statement with information about a company's profit and loss for the year ending December 31st, 20XX. It includes sales revenue, costs of goods sold, other income, and expenses to calculate the net profit or loss. It also contains a statement of financial position as of XXXX, listing current assets like cash, debtors, inventory and non-current assets. It details current liabilities such as creditors and loans, non-current liabilities, and owner's equity including capital, net profit/loss, and drawings.

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    sole trader

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    The document provides a financial statement with information about a company's profit and loss for the year ending December 31st, 20XX. It includes sales revenue, costs of goods sold, other income, and expenses to calculate the net profit or loss. It also contains a statement of financial position as of XXXX, listing current assets like cash, debtors, inventory and non-current assets. It details current liabilities such as creditors and loans, non-current liabilities, and owner's equity including capital, net profit/loss, and drawings.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    63 views3 pages

    ACC 1112 Format Sole Trader

    Uploaded by

    Tran Tan Trong Hieu
    The document provides a financial statement with information about a company's profit and loss for the year ending December 31st, 20XX. It includes sales revenue, costs of goods sold, other income, and expenses to calculate the net profit or loss. It also contains a statement of financial position as of XXXX, listing current assets like cash, debtors, inventory and non-current assets. It details current liabilities such as creditors and loans, non-current liabilities, and owner's equity including capital, net profit/loss, and drawings.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    of 3

    FORMAT - FINANCIAL STATEMENT

    Statement of Profit and Loss for the year ending 31 December 20XX

    Sales/ Revenue x
    less Sales return / Return Inward (x)
    Net sales x
    less Cost of Goods Sold
    Opening Inventory x
    Purchases x
    less Purchases return / Return Outward (x)
    Net purchases x
    Carriage Inward / Freight In x
    Custom Duties x
    x
    less Closing Inventory (x) x/(x)
    Gross Profit / (Gross Loss) x/(x)

    add OTHER INCOME


    Discount Received x
    Rental income x
    Commission received x
    Gain on disposal of non-current asset x
    Interest from investment x
    Reduction in allowance for doubtful debt x x
    x
    less EXPENSES
    Salary & wages x
    Utilities x
    Bank charges x
    Discount allowed x
    Advertising x
    Carriage outward x
    Depreciation for the year x
    Travelling charges x
    Rental x
    Stationeries x
    Insurance x
    Loss on disposal of non-current asset x
    Bad debts x
    Increase in allowance for doubtful debt x x
    Net Profit / Net Loss x/(x)
    Statement of Financial position as at XXXX

    Current Assets
    Cash at bank xx
    Petty cash / cash in hand xx
    Debtors/ Receivables xx
    less Allowance for doubtful debts (x) xx
    Closing inventories xx
    Accrued Income/ Income Receivables xx
    Prepaid expenses xx
    Total Current Assets xx

    Non Current Asset


    Plant and equipment - cost x
    less Accumulated depreciation - plant and equipment (x)
    Carrying amount x
    Furniture & Fittings - at cost x
    less Accumulated depreciation - furniture and fittings (x)
    Carrying amount x
    Motor vehicle x
    less Accumulated depreciation - motor vehicle (x)
    Carrying amount x

    Intangible assets
    Patents x
    Goodwill x
    Trademarks x xx

    Total Assets XXX

    CURRENT LIABILITIES
    Creditors/Account Payables xx
    Bank Overdraft xx
    Short term loan xx
    Unearned revenue xx
    Accrued expenses/ Expenses Payables xx
    xx
    Non Current Liabilities
    Mortgage Loan xx
    Term loan xx xx

    Owners Equity
    Capital xx
    Net Profit / (Net Loss) xx/(xx)
    xx
    Less Drawings (xx)
    Total Equity XX
    Total Liabilities and Owner's equity XXX

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