Patricia Green's Organic Fruit and Vegetable Stall

Preparing Simple Financial Statements

Scene 59 / of 60

The Financial Statements

The completed financial statements prepared at the end of the first period of trading.
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):   250
ASSETS:    
Non-current Assets (fixed):    
   Equipment 300  
   Furniture 200  
   Total Non-current Assets:
 		   500
Current Assets:    
   Bank 2050  
   Total Current Assets:
 		   2050
TOTAL ASSETS:   2550
LIABILITIES:    
Capital:    
   Capital 2000  
   Profit 250  
   Total Closing Capital:
 		   2250
Non-current Liabilities:    
   Total Non-current Liabilities:
 		   0
Current Liabilities:    
   Creditor - Retail Displays 300  
   Total Current Liabilities:
 		   300
TOTAL LIABILITIES:   2550



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