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    Income Statement Notes

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    camelia
    The document is a trading profit and loss account for Essex Sandwich Bar Ltd for the year ending 31 December 2009. It shows the company had sales of £350,000 and costs of goods sold of £183,000, resulting in gross profit of £148,000. Total expenses for the year were £133,220, including wages, insurance, rates, rent, advertising, depreciation, IT, heating and lighting. This gave a net profit of £14,715.

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    Income Statement Notes

    Uploaded by

    camelia
    14 views1 page
    The document is a trading profit and loss account for Essex Sandwich Bar Ltd for the year ending 31 December 2009. It shows the company had sales of £350,000 and costs of goods sold of £183,000, resulting in gross profit of £148,000. Total expenses for the year were £133,220, including wages, insurance, rates, rent, advertising, depreciation, IT, heating and lighting. This gave a net profit of £14,715.

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    Income statement notes

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    The document is a trading profit and loss account for Essex Sandwich Bar Ltd for the year ending 31 December 2009. It shows the company had sales of £350,000 and costs of goods sold of £183,000, resulting in gross profit of £148,000. Total expenses for the year were £133,220, including wages, insurance, rates, rent, advertising, depreciation, IT, heating and lighting. This gave a net profit of £14,715.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    14 views1 page

    Income Statement Notes

    Uploaded by

    camelia
    The document is a trading profit and loss account for Essex Sandwich Bar Ltd for the year ending 31 December 2009. It shows the company had sales of £350,000 and costs of goods sold of £183,000, resulting in gross profit of £148,000. Total expenses for the year were £133,220, including wages, insurance, rates, rent, advertising, depreciation, IT, heating and lighting. This gave a net profit of £14,715.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    £,000 £,000

    Sales Turnover 350,000

    Cost of sales
    Opening stock 30,000

    Add purchases 153,000

    =Trading Profit and Loss account, Essex Sandwich


    183,000
    Bar Ltd for year ending 31st December
    Less closing stock 2009
    35,000
    =
    Gross Profit 148,000
    202,000

    Less Expenses
    Wages
    Insurance
    55,550
    Rates
    Rent 3,450

    Advertising 12,720
    depreciation 34,500

    IT 5,000

    Heating and lighting 2,000


    9,000
    = 11,000
    Net Profit
    133220
    Corporation Tax 68,780
    Profit after tax
    Dividends paid 18571

    Retained profit 50,209


    14,715

    (Add 2,000 for


    van) 35,494

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