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  • Departmental Trading

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    meelas123
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    This document contains a departmental trading and profit & loss account for departments A and B. It shows the sales, cost of goods sold by calculating opening stock + purchases - returns - closing stock, and gross profit for each department. It then lists expenses for each department and calculates the net profit or loss. All financial information is shown separately for each department and as a total. One balance sheet will be prepared combining the financial information for both departments.

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    This document contains a departmental trading and profit & loss account for departments A and B. It shows the sales, cost of goods sold by calculating opening stock + purchases - returns - closing stock, and gross profit for each department. It then lists expenses for each department and calculates the net profit or loss. All financial information is shown separately for each department and as a total. One balance sheet will be prepared combining the financial information for both departments.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    551 views1 page

    Departmental Trading

    Uploaded by

    meelas123
    This document contains a departmental trading and profit & loss account for departments A and B. It shows the sales, cost of goods sold by calculating opening stock + purchases - returns - closing stock, and gross profit for each department. It then lists expenses for each department and calculates the net profit or loss. All financial information is shown separately for each department and as a total. One balance sheet will be prepared combining the financial information for both departments.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    of 1

    DEPARTMENTAL TRADING & PROFIT & LOSS ACCOUNT

    A Deptt B Deptt. Total


    £ £ £ £ £ £
    Sale xxx xxx xxx
    Less: cost of goods sold.
    Opening stock xxx xxx xxx
    Add: purchases xxx xxx xxx
    Add: carriage inwards/tpt.expenses. xxx xxx xxx
    Less: return outwards/purchase return xxx xxx xxx
    Less: Closing stock xxx xxx xxx
    xxx xxx xxx xxx xxx xxx
    Gross profit xxx xxx xxx
    Add: discount received/rent received xxx xxx xxx
    xxx xxx xxx
    Less expenses xxx xxx xxx
    Rent xxx xxx xxx
    Salaries xxx xxx xxx
    Wages xxx xxx xxx
    Insurance xxx xxx xxx
    Advertising xxx xxx xxx
    Repair and maintenance xxx xxx xxx
    Bad debts xxx xxx xxx
    Depreciation on machinery xxx xxx xxx
    Van running cost xxx xxx xxx
    Fuel expenses xxx xxx xxx
    Net profit/net loss xxx xxx xxx xxx xxx xxx

    xxx xxx xxx

    NOTE: For all departments one balance sheet will be prepared.

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