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  • Income Statement

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    Tanakha Maziwisa
    4 views1 page
    The document is an income statement that shows revenue, cost of sales including opening inventory, purchases and closing inventory, gross profit, other income from discounts received, and expenses including discounts allowed, carriage outwards, insurance, general expenses, wages, and depreciation. It provides the key line items for calculating gross profit and net income by showing revenue, costs, and expenses of the business over a period of time.

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    The document is an income statement that shows revenue, cost of sales including opening inventory, purchases and closing inventory, gross profit, other income from discounts received, and expenses including discounts allowed, carriage outwards, insurance, general expenses, wages, and depreciation. It provides the key line items for calculating gross profit and net income by showing revenue, costs, and expenses of the business over a period of time.

    Copyright:

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

    Income Statement

    Uploaded by

    Tanakha Maziwisa
    The document is an income statement that shows revenue, cost of sales including opening inventory, purchases and closing inventory, gross profit, other income from discounts received, and expenses including discounts allowed, carriage outwards, insurance, general expenses, wages, and depreciation. It provides the key line items for calculating gross profit and net income by showing revenue, costs, and expenses of the business over a period of time.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Income Statement

    Revenue XXX
    Less: Cost of Sales

    Opening Inventory XXX

    Add: Purchases XXX

    Cost of Goods available for Sale XXX

    Less: Closing Inventory XXX

    Cost Of Sales XXX

    Gross Profit XXX

    Add: Other Income

    Discounts received XXX

    Less: Expenses

    Discounts allowed XXX

    Carriage Outwards XXX

    Insurance XXX

    General expenses XXX

    Wages XXX

    Depreciation for (non-current assets) XXX

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