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  • Worksheet in Common Slides Session 1 To 10 - 3

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    Sourabh Rathi
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    The document summarizes the income statement of a company for a period. It shows net sales of Rs. 5505000 after deducting sales returns from gross sales. Cost of goods sold was Rs. 3812000, resulting in a gross profit of Rs. 1693000. Operating expenses totaled Rs. 1313000, giving an operating profit of Rs. 380000. After also accounting for other income and expenses like interest and tax, the net profit was Rs. 190000.

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    Financial Statement Worksheets 3

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    Worksheet in Common Slides Session 1 to 10 - 3

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    The document summarizes the income statement of a company for a period. It shows net sales of Rs. 5505000 after deducting sales returns from gross sales. Cost of goods sold was Rs. 3812000, resulting in a gross profit of Rs. 1693000. Operating expenses totaled Rs. 1313000, giving an operating profit of Rs. 380000. After also accounting for other income and expenses like interest and tax, the net profit was Rs. 190000.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    2 views1 page

    Worksheet in Common Slides Session 1 To 10 - 3

    Uploaded by

    Sourabh Rathi
    The document summarizes the income statement of a company for a period. It shows net sales of Rs. 5505000 after deducting sales returns from gross sales. Cost of goods sold was Rs. 3812000, resulting in a gross profit of Rs. 1693000. Operating expenses totaled Rs. 1313000, giving an operating profit of Rs. 380000. After also accounting for other income and expenses like interest and tax, the net profit was Rs. 190000.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    Sales 5540000

    Less: Sales Return* 35000

    Net Sales 5505000


    Less: Cost of Goods Sold (COGS)
    Opening Stock 2000
    Wages 250000
    Manufacturing Expenses 800000

    Carriage Inward 25000

    Factory Electricity 55000

    Fuel and Power 125000

    Purchases 2550000

    Depreciation on Machinery 25000


    Less: Purchase Return* 20000 3812000

    Gross Profit 1693000

    Less: Operarting Expenses


    Salaries 800000
    Printing and Stationary 25000
    Depreciation on Equipment 40000
    Office Electricity 125000
    Travel Bills 50000
    Audit Fees 21000
    Directors Fees 181000
    Telephone Bills 45000
    Miscellaneous Expenses 10000
    Insurance Paid 5000
    Legal Charges 11000 1313000
    Operating Profit 380000
    Add Commission received 25000

    EBIT 405000
    Less Interest 15000
    EBT 390000
    Less Tax 200000
    EAT/Net Profit 190000

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