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  • Sales Cost of Sales Opening Stock Purchases Carriage Inwards Import Duty Closing Stock Gross Profit

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    The document includes a statement of profit or loss and balance sheet for the year ended 31 October 2014. The statement of profit or loss lists sales, cost of sales, other income, and expenses in the order of administration, distribution, marketing, utilities, and depreciation. The balance sheet shows assets (non-current assets like furniture, current assets like debtors and stock), liabilities (capital, loans, creditors), and total liabilities equal to total assets. Two working papers provide details on fixed assets and realistic debtors.

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    The document includes a statement of profit or loss and balance sheet for the year ended 31 October 2014. The statement of profit or loss lists sales, cost of sales, other income, and expenses in the order of administration, distribution, marketing, utilities, and depreciation. The balance sheet shows assets (non-current assets like furniture, current assets like debtors and stock), liabilities (capital, loans, creditors), and total liabilities equal to total assets. Two working papers provide details on fixed assets and realistic debtors.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    Download as xlsx, pdf, or txt
    23 views6 pages

    Sales Cost of Sales Opening Stock Purchases Carriage Inwards Import Duty Closing Stock Gross Profit

    Uploaded by

    Sweets Cheap
    The document includes a statement of profit or loss and balance sheet for the year ended 31 October 2014. The statement of profit or loss lists sales, cost of sales, other income, and expenses in the order of administration, distribution, marketing, utilities, and depreciation. The balance sheet shows assets (non-current assets like furniture, current assets like debtors and stock), liabilities (capital, loans, creditors), and total liabilities equal to total assets. Two working papers provide details on fixed assets and realistic debtors.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 6

    Statement of Profit or Loss for year ended 31/10/14

    Sales
    Cost of sales
    Opening stock
    Purchases
    Carriage inwards
    Import duty
    Closing stock
    GROSS PROFIT
    Other Income

    Expenses

    Operating Profit / (Loss)


    Interest
    NET PROFIT / (LOSS)

    Please list the expenses in the order they came in with DEPRECIAITION last
    Balance Sheet as at 31/10/14
    ASSETS € €
    Non Current Assets

    Current assets
    Debtors
    Stock
    Cash
    Bank
    Accrued Income
    Prepaid Expenses
    Total Assets
    LIABILITIES
    Capital
    Opening capital
    Profit / loss
    Drawings
    Non-current liabilities
    Loans
    Current liabilities
    Creditors
    Overdraft
    Prepaid Income
    Accrued Expenses
    Interest unpaid
    Total Liabilities

    DEPRECIAITION last
    Working 1: Fixed Asset Schedule Furn & Equip
    Cost

    Accumulated depreciation - start


    Annual depreciation calc for P&L
    Accumulated depreciation - end

    Net book value

    Working 2: Realistic Debtors


    Debtors

    Provision - start [HAVE]


    Provision - end [NEED]
    Adjust in P&L <- Increase or Reductio

    Realistic debtors
    <- Increase or Reduction
    Statement of Profit or Loss for year ended 31/10/14 Balance Sheet as at 31/10/14
    € € ASSETS € €
    Sales 940000 Non Current Assets
    Cost of sales furn 228000
    Opening st 45000 Current assets
    Purchases 420000 Debtors 96000
    Carriage in 0 Stock 50000
    Import duty 0 Cash 5000
    Closing sto -50000 415000 Bank 65000
    GROSS PROFIT 525000 Accrued In 0
    Other Income Prepaid Ex 8000 224000
    com 24000 Total Assets 452000
    prov 2000 26000 LIABILITIES
    Expenses Capital
    admin 332000 Opening c 320000
    dist 97000 Profit / lo -32000
    mark 67000 Drawings 0 288000
    util 44000 Non-current liabilities
    dep 38000 578000 Loans 100000
    Operating Profit / (Loss) -27000 Current liabilities
    Interest 5000 Creditors 58000
    NET PROFIT / (LOSS) -32000 Overdraft 0
    Prepaid In 3000
    Accrued Ex 2000
    Interest un 1000 64000
    Total Liabilities 452000
    Working 1: Furn & Equip
    Cost 380000

    Accumulated 114000
    Annual depr 38000
    Accumulated 152000

    Net book va 228000

    Working 2: €
    Debtors 100000

    Provision - 6000
    Provision - 4000
    Adjust in P 2000 red <- Increase or Reduction

    Realistic de 96000

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