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LALL POA LESSONS

Syllabus SESSION 15 Vertical and Horizontal Formats

Objective

VERTICAL
<COMPANY NAME>
Trading, Profit and Loss Account (Income Statement) for the year ended <Insert Date>
$ $ $
Sales 0
Less: Returns Inwards 0
Net Sales 0
Less: Cost of Goods Sold
Opening Inventory 0
Purchases 0
Less: Returns Outwards 0
0
Add: Carriage Inwards 0
Net Purchases 0
Cost of goods available for sale 0
Less Closing Inventory 0
Cost of goods sold 0
Gross Profit 0
Add Revenues 0

Less Expenses 0
0
Net Profit 0

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 R. LALL POA LESSONS

HORIZONTAL
<COMPANY NAME>
Trading, Profit and Loss Account (Income Statement) for the year ended <Insert Date>
$ $
Opening Inventory xxx Sales xxx
Add Purchases xxx Less Returns Inwards (xxx)
Add Carriage Inwards xxx Gross Loss c/d xx
Cost of goods available for sale xxxx
Less Returns Outwards (xx)
Less Closing Inventory (xx)
Cost of goods sold xxxx
Gross Profit c/d xxx
xxxx xxxx
Gross Loss b/d xx Gross Profit b/d xx
Less: Other Expenses (xx) Add: Other revenues xx
Net Profit c/d xxx Net Loss c/d xxx
xxxx xxxx
Net Loss b/d xx Net Profit b/d xx

NOTES:
There will be either a Gross Profit or a Gross Loss. The Gross Profit or Gross Loss is a balancing figure.
There will be either a Net Profit or a Net Loss. The Net Profit or Net Loss is a balancing figure.

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Vertical
<Company Name>
Statement of Financial Position as at <Insert Date>
$ $ $
Non-Current Assets
Land 0
Building 0
Motor Vehicle 0
Fixtures and Fittings 0
0
Current Assets
Inventory 0
Accounts receivable 0
Prepayments 0
Bank 0
Cash 0
0
Less Current Liabilities
Short Term Loan 0
Account Payable 0
Accurals 0
0
Net Current Assets (Working Capital) 0
Non-Current Liabilities 0
Long Term Loan 0
Debentures 0
0
Net Asset 0
Financed By:
Capital 0
Add/Less Net Profit/Net Loss 0
0
Drawings 0
0

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Horizontal
<Company Name>
Statement of Financial Position as at <Insert Date>
$ $ $ $
Non-Current Assets Capital 0
Land 0 Add/Less Net Profit/Net Loss 0
Building 0 0
Motor Vehicle 0 Less Drawing 0
Fixtures and Fittings 0 0
0 Non-Current Liabilities
Current Assets Long Term Loan 0
Inventory 0 Debentures 0
Accounts receivable 0 0
Prepayments 0 Current Liabilities
Bank 0 Short Term Loan 0
Cash 0 Account Payable 0
0 Accurals 0
0
0 0

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