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  • Income Statement

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    Shann -
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    The document contains 3 income statements - one for a service business and two for a merchandising business. The service business statement lists revenues and expenses. The merchandising statements include a cost of goods sold section calculating the costs associated with inventory, as well as a net sales and operating expenses section to determine net income or loss.

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    Income Statement

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    The document contains 3 income statements - one for a service business and two for a merchandising business. The service business statement lists revenues and expenses. The merchandising statements include a cost of goods sold section calculating the costs associated with inventory, as well as a net sales and operating expenses section to determine net income or loss.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views3 pages

    Income Statement

    Uploaded by

    Shann -
    The document contains 3 income statements - one for a service business and two for a merchandising business. The service business statement lists revenues and expenses. The merchandising statements include a cost of goods sold section calculating the costs associated with inventory, as well as a net sales and operating expenses section to determine net income or loss.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 3

    INCOME STATEMENT

    Service Business

    COMPANY NAME

    INCOME STATEMENT

    FOR THE MONTH/YEAR ENDED

    REVENUES EARNED
    Service Income

    LESS: OPERATING EXPENSES


    Salaries Expense
    Rent Expense
    Utilities Expense
    Supplies Expense
    Bad Debts Expense
    Depreciation Expense
    Advertising Expense
    Insurance Expense
    Taxes and Licenses Expense
    Transportation and Travel Expense
    Interest Expense
    Miscellaneous Expense

    TOTAL OPERATING EXPENSES

    NET INCOME – Income > Expenses


    NET LOSS – Income < Expenses
    INCOME STATEMENT

    Merchandising Business

    STATEMENT OF COST OF GOOD SOLD

    COMPANY NAME

    STATEMENT OF COST OF GOODS SOLD

    FOR THE MONTH/YEAR ENDED

    Beginning Inventory

    Add: Net Purchases


    Purchases
    Add: Freight In
    Total
    Less: Purchase Discount
    Purchase Returns and Allowances

    TOTAL GOODS AVAILABLE FOR SALE

    Less: Ending Inventory

    COST OF GOODS SOLD


    INCOME STATEMENT

    Merchandising Business

    COMPANY NAME

    INCOME STATEMENT

    FOR THE MONTH/YEAR ENDED

    Sales
    Less: Sales Discount
    Sales Returns and Allowances

    NET SALES

    Less: Cost of Goods Sold

    GROSS PROFIT

    LESS: OPERATING EXPENSES


    Salaries Expense
    Rent Expense
    Utilities Expense
    Supplies Expense
    Bad Debts Expense
    Depreciation Expense
    Advertising Expense
    Insurance Expense
    Taxes and Licenses Expense
    Transportation and Travel Expense
    Interest Expense
    Miscellaneous Expense

    TOTAL OPERATING EXPENSES

    NET INCOME – Income > Expenses


    NET LOSS – Income < Expenses

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