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  • Is Sofp

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    Abhishek Thadhani
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    This income statement and statement of financial position are for a sole trader for the year ended 31 December 2021. The income statement shows the sole trader had sales of $###, cost of goods sold of $###, and other expenses of $###, resulting in a profit for the year of $###. The statement of financial position shows the sole trader has total assets of $##, including non-current assets of $## and current assets of $##, and has total equity and liabilities of $##, including equity of $## and non-current liabilities of $##.

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    Sofp

    Original Title

    IS SOFP

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    This income statement and statement of financial position are for a sole trader for the year ended 31 December 2021. The income statement shows the sole trader had sales of $###, cost of goods sold of $###, and other expenses of $###, resulting in a profit for the year of $###. The statement of financial position shows the sole trader has total assets of $##, including non-current assets of $## and current assets of $##, and has total equity and liabilities of $##, including equity of $## and non-current liabilities of $##.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    4 views2 pages

    Is Sofp

    Uploaded by

    Abhishek Thadhani
    This income statement and statement of financial position are for a sole trader for the year ended 31 December 2021. The income statement shows the sole trader had sales of $###, cost of goods sold of $###, and other expenses of $###, resulting in a profit for the year of $###. The statement of financial position shows the sole trader has total assets of $##, including non-current assets of $## and current assets of $##, and has total equity and liabilities of $##, including equity of $## and non-current liabilities of $##.

    Copyright:

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

    Sole Trader Financial Statements

    Income Statement
    For the year ended 31 Dec , 2021

    $ $
    Sales ###
    Sales Return ## ###

    Less Cost of Sales


    Opening Inventory ###
    Purchases ###
    Carriage Inwards ###
    Purchases Return ##
    Closing Inventory ##
    Cost of sales ###
    Gross Profit ###
    Other Income
    Discount Received ###
    Profit on Disposal ###
    Decrease in PFDD ### ###

    Expenses
    Rent ###
    Insurance ###
    Wages ###
    Discount Allowed ###
    Carriage Outward ###
    Bad Debt ###
    interest on Loan ###
    Depreciation ###
    Increase in PFDD ### ###
    Profit for the year ###
    Statement of Financial Position

    $ $ $
    Non Current Assets Cost Acc BV
    Dep
    Land & Building ## ## ##
    Equipment ## ## ##
    Motor Vehicles ## ## ##
    ## ## ##
    Current Assets
    Inventory ##
    Trade Receivables ##
    Less: PFDD ## ##
    Other Receivables ##
    Cash & Cash Equivalents ## ##
    Total Assets ##

    Equity
    Capital at beg ##
    Add Profit ##
    Less Drawings ## ##

    Non-Current Liabilities
    Loan ##

    Current Liabilities
    Trade Payables ##
    Other Payables ##
    Bank Overdraft ## ##
    Total Equity and Liabilities ##

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