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  • Income Statement Format

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    sorayukiforger13
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    The income statement for the year ended 31 May 20-8 shows total revenue of xx with sale returns of xx, resulting in net revenue of xx. Cost of sales was xxx, including opening inventory, purchases, returns and own use goods. Gross profit was xxx. Income from discounts received was xx. Expenses included discounts allowed, wages, general expenses and property tax totaling xxx. Profit from operations was xxx and net profit for the year was xxx after deducting loan interest of xxx.

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    The income statement for the year ended 31 May 20-8 shows total revenue of xx with sale returns of xx, resulting in net revenue of xx. Cost of sales was xxx, including opening inventory, purchases, returns and own use goods. Gross profit was xxx. Income from discounts received was xx. Expenses included discounts allowed, wages, general expenses and property tax totaling xxx. Profit from operations was xxx and net profit for the year was xxx after deducting loan interest of xxx.

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    17 views3 pages

    Income Statement Format

    Uploaded by

    sorayukiforger13
    The income statement for the year ended 31 May 20-8 shows total revenue of xx with sale returns of xx, resulting in net revenue of xx. Cost of sales was xxx, including opening inventory, purchases, returns and own use goods. Gross profit was xxx. Income from discounts received was xx. Expenses included discounts allowed, wages, general expenses and property tax totaling xxx. Profit from operations was xxx and net profit for the year was xxx after deducting loan interest of xxx.

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    Income Statement for the year ended at 31 May 20-8

    $ $
    Revenue xx
    Less: Sale returns (xx)
    xx
    Less: Cost of Sale
    Opening Inventory xx
    Purhchase xx
    (-) Purchase returns (xx)
    (-) Goods for own use (xx)
    Carriage inwards xx
    (-) Closing Inventory (unsold stock) (xx)
    (xxx)
    Gross Profit xxx
    Add: Income
    Discount Received xx

    Less: Expenses
    Discount Allowed xx
    Wages xx
    General Expenses xx
    Property tax xx
    (xxx)
    Profit from Operations xxx
    Less: Loan Interest (xxx)
    Profit for the year xxx
    NCA

    P/L (Income)
    2007-2008

    Trading Sector

    Manufacturing Sector

    2007 2007 2007 2007 2007 2007 2007 2008 2008


    June July Aug Sep Oct Nov Dec Jan Feb

    T P/L
    2008 2008
    Mar April 31-May-08

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