Scribd
Upload
8 views3 pages

SOFP

statement of financial position

Uploaded by

Haneef 7
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
8 views3 pages

SOFP

statement of financial position

Uploaded by

Haneef 7
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
You are on page 1/ 3

STATEMENT OF PROFIT AND LOSS ACCOUNT

PARTICULARS CALCULATION AMOUNT

Revenue 1300000
Cost of sale (150000+470000-250000+60% OF 30000) 388000

Gross profit 912000

distribution cost (20% of 30000+240000) 246000


administration cost (20% of 30000-15000+170000) 161000

profit from operation 505000

Finance cost (5000+3000) 8000


Other income 0

Profit before tax 497000

Income tax (135000+10000) 145000

Profit after tax 352000

STATEMENT OF FINANCIAL POSITION

PARTICULARS CALCULATION AMOUNT


ASSET

Non-current assets (WN1) 182000

current assets
inventory 250000
cash and bank balance 9000
Trade receivable 728000

Total asset 1169000


Equity and liablities

share capital 200000


retained earning (WN2) 616000

Non-current liablities

10% loan note 80000


warerenty claims 75000

Current liablities

tax payable 135000


outstanding interest 3000
Trade payable 60000

Total Equity and liablities 1169000

WORKING NOTES

1. FIXED ASSETS

Name of the asset Opening purchase sales

Land and building 210000 0 0


plant and machinery 125000 0 0
TOTAL 335000 0 0

2.RETAINED EARNING

Opening retained earning 270000


Add profit of the year 352000
Less Dividend paid 6000
closing 616000
closing accumulated dep Dep for current year Total dep written down value

210000 48000 5000 53000 157000


125000 75000 25000 100000 25000
335000 123000 30000 153000 182000

You might also like