Scribd Logo
Upload

Welcome to Scribd!

  • Single Entry

    Uploaded by

    meelas123
    55 views1 page
    The document provides a statement of profit/loss and a statement of affairs format for a business. The statement of profit/loss shows net profit calculated as closing capital plus drawings minus opening capital and additional capital. The statement of affairs format lists fixed assets like machinery, buildings, vehicles, and furniture with their costs, depreciation, and net book value. It also lists current assets like stock, debtors, cash, and prepayments, as well as current liabilities like creditors, bank overdraft, and accrued expenses to calculate working capital. The statement of affairs provides a breakdown of assets and liabilities to determine capital at the beginning of the year.

    Original Description:

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    DOC, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document provides a statement of profit/loss and a statement of affairs format for a business. The statement of profit/loss shows net profit calculated as closing capital plus drawings minus opening capital and additional capital. The statement of affairs format lists fixed assets like machinery, buildings, vehicles, and furniture with their costs, depreciation, and net book value. It also lists current assets like stock, debtors, cash, and prepayments, as well as current liabilities like creditors, bank overdraft, and accrued expenses to calculate working capital. The statement of affairs provides a breakdown of assets and liabilities to determine capital at the beginning of the year.

    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
    55 views1 page

    Single Entry

    Uploaded by

    meelas123
    The document provides a statement of profit/loss and a statement of affairs format for a business. The statement of profit/loss shows net profit calculated as closing capital plus drawings minus opening capital and additional capital. The statement of affairs format lists fixed assets like machinery, buildings, vehicles, and furniture with their costs, depreciation, and net book value. It also lists current assets like stock, debtors, cash, and prepayments, as well as current liabilities like creditors, bank overdraft, and accrued expenses to calculate working capital. The statement of affairs provides a breakdown of assets and liabilities to determine capital at the beginning of the year.

    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

    STATEMENT OF PROFIT / LOSS

    Closing capital xxx


    Add: drawings xxx
    Less: opening capital xxx
    Less: additional capital xxx
    Net Profit xxx
    NOTE: If capital is not given, it can be calculated as follows.
    Opening capital= Opening assets---opening liabilities
    Closing capital= closing assets--- closing liabilities
    or
    BY PREPARATION OF STATEMENT OF AFFAIRS AS ILLUSTRATED BELOW
    Format of statement of affairs.
    Fixed assets. Cost Dep. N.B.V
    £ £ £
    Plant and machinery xxx xxx xxx
    Building xxx xxx xxx
    Motor van xxx xxx xxx
    Furniture and fitting xxx xxx xxx

    CURRENT ASSETS.
    Closing stock xxx
    Debtors xxx
    Cash in hand xxx
    Cash at bank xxx
    Prepayment xxx xxx
    CURRENT LIABILITIES
    Creditors xxx
    Bank overdraft xxx
    Accrued expenses xxx xxx
    Working capital xxx
    Capital at the beginning of the year xxx

    You might also like