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  • XYZ LTD

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    XYZ Ltd reported net sales of KES 609 million for the year ended December 31, 2020. Cost of sales was KES 328.5 million, resulting in a gross profit of KES 280.5 million. Operating expenses totaled KES 501,800, including salaries of KES 240,000 and depreciation expenses. This led to a net profit of KES 230.3 million for the year.

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    XYZ Ltd

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    XYZ Ltd reported net sales of KES 609 million for the year ended December 31, 2020. Cost of sales was KES 328.5 million, resulting in a gross profit of KES 280.5 million. Operating expenses totaled KES 501,800, including salaries of KES 240,000 and depreciation expenses. This led to a net profit of KES 230.3 million for the year.

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    3 views1 page

    XYZ LTD

    Uploaded by

    caleb
    XYZ Ltd reported net sales of KES 609 million for the year ended December 31, 2020. Cost of sales was KES 328.5 million, resulting in a gross profit of KES 280.5 million. Operating expenses totaled KES 501,800, including salaries of KES 240,000 and depreciation expenses. This led to a net profit of KES 230.3 million for the year.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    XYZ Ltd

    STATEMENT OF COMPREHENSIVE FOR THE PERIOD ENDED 31ST DECEMBER 2020

    KES KES KES

    Sales 6090000

    Less R.Inwards ( xxx)

    Net sales 6090000

    Less cost of sales

    Opening stock 1725000

    Add purchases 3160000

    Less R.Outwards (xxx)

    COGS 4885000

    Less clossing stock (1600000)

    Cost of sales (3285000)

    Gross profit 2805000

    Less expenses;

    Depreciation; leasehold premises 35000

    Fixtures and fittings 15000

    Delivery van 16000

    General expenses 65000

    Salaries 240000

    bad debts 12000

    increase in provision for bad debts 14800

    insurance 44000

    rent 60000

    (501800)

    Net profit 2303000

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