Name of business

Statement of Profit and Loss for the year ended….

RM RM RM
Sales xxx

Less: Return Inward/Sales Return (xxx)

Net Sales xxx

Less: Cost of Inventories Sold

Opening inventories xxx
Add: Purchases xxx
(-) Return outwards/Purchase return (xx)
Net Purchases xxx

(+) Carriage Inwards/Transportation Inwards xxx

Import Duties xxx
Insurance on purchases xxx
Taxes on purchases xxx
Factory wages xxx xxx

Less: Closing inventories (xxx) (xxx)

GROSS PROFIT XXX

Add: Other revenue:

Discount received xxx
Bad debt recovered xxx
Interest received xxx
Decrease in Allowance for Doubtful Debt xxx
Decrease in Allowance for Discount Allowable xxx xxx

Less: Expenses:
Advertising expenses xxx
Carriage outwards/ Transportation outwards xxx
Motor Vehicle expenses xxx
Depreciation xxx
Wages and salaries xxx
Rent expenses xxx
Insurance expenses xxx
Discount allowed xxx
Increase in Discount Allowable xxx
Increase in Doubtful Debt xxx
Bad debt expenses xxx
Interest expenses xxx
Bank charges xxx (xxx)
NET PROFIT/ (NET LOSSES) XXX
 Name of business
Statement of Financial Position as at….
RM RM RM
Non-Current Assets Cost Acc. Dep. NBV
Tangible Assets
Freehold land and building xx (xx) xx
Motor Vehicle xx (xx) xx

Intangible Assets
Copyrights xx
Trademarks xx
Goodwill xx
Patent rights xx
Preliminary expenses xx

Investments
Fixed deposit xx
Government bond xx
xxx
Current Assets
Inventories xx
Cash in hand xx
Bank xx
Prepaid expenses xx
Accrued revenue xx
Account Receivables xx
Less: Allowance for doubtful debt (xx)
Less: Allowance for discount allowable (xx) xx
TOTAL ASSETS XXX

Financed by:
Owner’s Equity
Beginning Capital xx
Add: Net Profit @ less : Net losses xx / (xx)
Less: Drawings (xx)
Ending Capital xxx

Non-Current Liabilities
Bank loan xx
Mortgage on Land and Building xx

Current Liabilities
Account Payables xx
Bank Overdraft xx
Accrued expenses xx
Revenue received in advance xx
TOTAL OE AND LIABILITIES XXX