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  • Tarif

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    Sukhmani Kaur
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    The income statement for Tarif for the year ended 30 September 2019 shows revenue of $133,200. Cost of sales was $72,420, resulting in a gross profit of $60,780. Operating expenses including rent, depreciation, fees, interest and wages totaled $40,680. This led to a profit for the year of $21,040.

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    The income statement for Tarif for the year ended 30 September 2019 shows revenue of $133,200. Cost of sales was $72,420, resulting in a gross profit of $60,780. Operating expenses including rent, depreciation, fees, interest and wages totaled $40,680. This led to a profit for the year of $21,040.

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    © All Rights Reserved
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    6 views1 page

    Tarif

    Uploaded by

    Sukhmani Kaur
    The income statement for Tarif for the year ended 30 September 2019 shows revenue of $133,200. Cost of sales was $72,420, resulting in a gross profit of $60,780. Operating expenses including rent, depreciation, fees, interest and wages totaled $40,680. This led to a profit for the year of $21,040.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    TARIF
    INCOME STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER
    2019

    Revenue 133 200

    Less:Opening inventory 7 410

    Purchases [$73 480 (of) – $390 (1)] 73 090

    Closing inventory 80 500

    Cost of sales 72 420

    Gross profit 60 780 (1)

    Discounts received 940 (1) 61 720

    Rent W1 16 960 (2)

    Depreciation of furniture and equipment 3 700

    Accountant's fees 640

    Loan interest 580

    Wages of assistant 18 800 (1) 40 680

    Profit for year 21 040

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