POA FORMATS

1. Trial Balance
2. Income Statement
3. Balance Sheet
4. Partnership Appropriation Account
5. Partnership Current Account
6. Cost of Goods Manufactured Account
7. Company Appropriation Account
8. Company Balance Sheet Extract (Capital Section)

1. TRIAL BALANCE

Description Dr Cr

All Assets - Property Plant and Equipment, Motor Vehicle, Fixtures and XXX
Fittings, Inventory/Stock, Accounts Receivable, Cash, Bank,
Prepayments etc.

All Expenses – Rent Expenses, Telephone/internet Expenses, Stationery XXX

Expenses, Salaries Expenses, Advertising Expenses, Motor Expenses,
Wages Expenses, Insurance Expenses, Postage Expenses

Depreciation Expense

Bad Debt Expense

Return Inwards XXX

Purchases XXX

Carriage Inwards XXX

Carriage Outwards XXX

Drawings XXX

Capital XXX

All Loans XXX

Bank Overdraft XXX

Sales XXX

Accounts Payable XXX

Accruals XXX

Returns Outwards XXX

Provision for Bad Debt XXX

Provision for Depreciation XXX

XXX XXX
 2. Income Statement

$ $

1.Sales
Less: Sales Returns or Return Inwards
=Net Sales

2.Less: Cost of Goods Sold:

Beginning Inventory
Add: Purchases
Add: Carriage/freight/Transport inwards
Less: Purchase Returns or Returns Outwards
Less: Ending Inventory
= Cost of Goods Sold

3. Gross Profit
This is Sales – COGS. Other revenues such as
commission received, rent received, interest revenue
discounts received etc. are then added to this gross
profit.

4.Expenses
All expenses are listed out here. The additional info
section will state if any adjustments are to be made.
These include:
Carriage/freight/Transport Outwards
Bad Debts Expenses
Depreciation Expenses
Discounts Allowed

Net Income
3. Balance Sheet

Assets Liabilities and Capital

Non-Current Assets Current Liabilities

Land and Building Accounts Payable
xxx xxx
Motor Vehicle xxx Accrued Expenses
Fixtures and Fittings xxx xxx
Short-Term Loans
xxx
Current Assets
Inventory/Stock xxx
Accounts Receivable xxx Long – Term Liabilities
Prepayments Long Term Loans xxx
xxx
Bank xxx
Cash Capital
xxx Cash introduced xxx
Add: Net Profit for the year xxx

Less: Drawings xxx

=Ending Capital xxx

TOTAL LIBILITIES AND CAPITAL

TOTAL ASSTES XXX
XXX
 4. Partnership Appropriation Account

$ $
Net Income before Appropriation
Add: Interest on Drawings
Partner One (% x Drawings)
Partner Two (% x Drawings)
Partner Three (% x Drawings)

Less Appropriations:
Interest on Capital
Partner One (% x Capital)
Partner Two (% x Capital)
Partner Three (% x Capital)

Salaries
Partner One
Partner Two
Partner Three

Share of Profit after Appropriations

Partner One
Partner Two
Partner Three 0
Note: Net Income Less Appropriations
should be 0

5. Current Account (Columnar Format)

DR CR

Description Partner Partner Partne Partner

A B rA B

Interest on Drawings xx xx Interest on Capital xx xx

Drawings xx xx Salaries xx xx

Share of Profit xx xx
 6. Cost of Goods Manufactured Schedule

Beginning Raw Materials xxx

Add:  Direct Materials Purchases xxx

Add Carriage/Transport Inwards xxx

Less:  Ending Raw Material (xxx)

Cost of Direct Materials Used XXX

Direct Labour XXX

Prime Cost XXX

Manufacturing Overhead

Indirect Labour xxx

Factory Repairs xxx

Factory Utilities xxx

Factory Depreciation xxx

Factory Insurance xxx

Total Manufacturing Overheads XXX

Production Costs XXX

Administrative Expenses xxx

Selling and Distribution Expenses xxx

Add: Beginning Work In Progress xxx

Less: Ending Work In Progress (xxx)

Total Cost of Goods Manufactured XXX

 7. Companies Appropriation Account

Name of Company
Appropriation Account
For The Year Ended xx/xx/xxxx

Net Income before Appropriation

Add: Retained Earnings
Less Appropriations
Dividends
Preference (% x Value of Issued Pref. Shares)
Ordinary ($? X # of Issued Ord. Shares)

Reserves
Special Reserves
General Reserves
Retained Earnings accrued forward

8. Balance Sheet Extract

Capital and Reserves

Authorized Share Capital
Preference Share Capital (not to be added) xxx
Ordinary Share Capital (not to be added)
xxx
Issued Share Capital
Preference Share Capital
xxx
Ordinary Share Capital
xxx
Reserves
Special Reserves xxx
General Reserves xxx
Ending Retained earnings (From Appropriation Account above) xxx
TOTAL CAPITAL AND RESERVES XXX