Patricia Green's Organic Fruit and Vegetable Stall

Preparing Simple Financial Statements

Scene 51 / of 60

Preparing the Income Statement - Establishing the Net Profit

Now type in the Net Profit.


Account DEBIT CREDIT
Bank Account 2050  
Capital Account   2000
Creditor - Retail Displays Account   300
Equipment Account 300  
Furniture Account 200  
Insurance Account 180  
Purchases Account 600  
Rent Account 150  
Sales Account   1180
  3480 3480


Income from Sales:    
   Sales 1180  
   Net Sales:
 		   1180
Cost of Sales:    
   Purchases 600  
   Total Cost of Sales:
 		   600
GROSS PROFIT:   580
Other Income:    
   Total Other Income:
 		   0
Expenses:    
   Insurance 180  
   Rent 150  
   Total expenses:
 		   330
NET PROFIT / (LOSS):  



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