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Chapter 6 - SOPL Format

This statement of profit or loss shows the company's sales, costs, revenues, expenses, and net profit for the year ended 31 December 2018. It lists sales, returns, discounts, and net sales. It then details the cost of goods sold, including opening inventory, purchases, returns, discounts, and closing inventory to calculate cost of sales. It also lists gross profit, revenues from various sources, and operating expenses including salaries, utilities, depreciation, insurance, rent, repairs, and doubtful debts. The net profit for the year is then reported.

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40 views1 page

Chapter 6 - SOPL Format

This statement of profit or loss shows the company's sales, costs, revenues, expenses, and net profit for the year ended 31 December 2018. It lists sales, returns, discounts, and net sales. It then details the cost of goods sold, including opening inventory, purchases, returns, discounts, and closing inventory to calculate cost of sales. It also lists gross profit, revenues from various sources, and operating expenses including salaries, utilities, depreciation, insurance, rent, repairs, and doubtful debts. The net profit for the year is then reported.

Uploaded by

quraisha irdina
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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VERTICAL FORMAT OF SOPL

ABC Trading
Statement of Profit or Loss for the year ended 31 December 2018
RM RM RM
Sales XXX
Less: Sales Returns (Return Inwards) (XXX)
: Sales Discount (Discount allowed) (XXX
Net Sales )XXX

Less: Cost of sales


Opening Inventory XXX
Purchases XXX
Less: Purchase Returns (Return Outwards) (XXX)
: Purchase Discount (Discount received) (XXX)
Net Purchases
XXX
Add: Carriage inwards XXX
Duty on Purchase XXX
Insurance on Purchase
Cost of goods available for sale XXX
Less: Closing Inventory
XXX
(XXX)
Cost of sales (XXX) cost of sales
GROSS PROFIT (LOSS) XXX GROSS PROFIT =SALES >COST OF SALES
GROSS LOSS = SALES < COST OF SALES
Add: Revenues
Income from investment XXX
Rent Received
Commission Received XXX
Interest Received from fixed deposit
Decrease in Allowance for doubtful debt XXX
XXX
Less: Operating Expenses XXX
Salary and wages XXX
XXX
Advertisement expenses
Utilities Expenses XXX
Depreciation of Non Current Asset (NCA)
Insurance XXX
Printing and Stationery
Rent expenses XXX
Interest on Loan Expenses
Repairs expenses XXX
Carriage outwards
Increase in Allowance for XXX
doubtful debt (XXX)
NET PROFIT (LOSS) XXX 20,000 NET PROFIT = REVENUES > EXPENSES
NET LOSS = REVENUES < EXPENSES
XXX

XXX

XXX

XXX

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