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    Income Statement Humaid

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    Mercians RX
    Karachi Traders LTD sold 5000 items for $20000 in revenue. Cost of goods was $8000, giving a gross profit of $12000. Overhead expenses were $5000, resulting in operating profit of $7000. Interest was $1000 and corporation tax was $1500, giving profit after tax of $4500. Dividends of $1200 were paid, with retained profit of $3300.

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    Income Statement Humaid

    Uploaded by

    Mercians RX
    9 views1 page
    Karachi Traders LTD sold 5000 items for $20000 in revenue. Cost of goods was $8000, giving a gross profit of $12000. Overhead expenses were $5000, resulting in operating profit of $7000. Interest was $1000 and corporation tax was $1500, giving profit after tax of $4500. Dividends of $1200 were paid, with retained profit of $3300.

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    Karachi Traders LTD sold 5000 items for $20000 in revenue. Cost of goods was $8000, giving a gross profit of $12000. Overhead expenses were $5000, resulting in operating profit of $7000. Interest was $1000 and corporation tax was $1500, giving profit after tax of $4500. Dividends of $1200 were paid, with retained profit of $3300.

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    9 views1 page

    Income Statement Humaid

    Uploaded by

    Mercians RX
    Karachi Traders LTD sold 5000 items for $20000 in revenue. Cost of goods was $8000, giving a gross profit of $12000. Overhead expenses were $5000, resulting in operating profit of $7000. Interest was $1000 and corporation tax was $1500, giving profit after tax of $4500. Dividends of $1200 were paid, with retained profit of $3300.

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    of 1

    Question 1 (of Activity 3.4.

    4) Profit and loss account for Karachi Traders LTD for the year ending 31 December $
    Revenue (5000 items @ $4 each) 20000
    Cost of goods sold (@ $ 1.60 per item) 8000
    Gross profit 12000 V
    Overhead expenses 5000
    Net profit before interest and taxes (operating profit) 7000 W
    Interest 1000
    Net profit before tax 6000 X
    Corporation tax (@25%) 1500
    Profit after tax 4500 Y
    Dividends 1200
    Retained profit 3300 Z

    Question 2 (of Activity 3.4.4) Profit and loss account for Karachi Traders LTD for the year ending 31 December $
    Revenue 18000
    Cost of goods sold 5400
    Gross profit 12600 V
    Overhead expenses 4500
    Net profit before interest and taxes (operating profit) 8100 W
    Interest 2000
    Net profit before tax 6100 X
    Corporation tax (@20%) 1220
    Profit after tax 4880 Y
    Dividends 1200
    Retained profit 3680 Z

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