Srikant and Company

Profit and Loss Statement

for the Year Ending 31st Dec 2013
Revenue Amt Amt
Revenue For Ops 41460
LESS: Returns 1020
Net Sales 40440

LESS: COGS
Opening Inv 3100
Add:Purchases 21200
Less: Returns -420
Wages 5200
Freight Charges 560
Total Goods AvL 29640
LESS: Closing Inv 2980 26660

Gross Profit 13780

Operating Exp
Salary Exp 2200
ADD Payable 200 2400
Rent Expense 600
Postage exp 300
Stationary 240
Repairs and Main 900
Carriage on Sales 800
Deprisiation exp 170
Micellaneous Exp 500
Less Prepaid Insu 60 440
Bad Debt 120
Prov FR Bad and Doubtful 300

Total OP Exp 6270

EBIT 7510

Non Operating Income

Interest Income 240

Net Profit 7750

 Srikant and Company
Balance Sheet
for the Year Ending 31st Dec 2013
LIABLITY AND EQUITY
Share holders Funds
Share Capital 12000
Reserves and Surplus 7750
Balance in PL STM 19750

Non- Current Liability

Loan 3000

Current Liablity
Acc Payable 4920
Salary Payable 200
5120

Total 27870

Assets
Non-Current Assets
Land 15300
Building 1700
Less: Acc Dep 1700 1530
Furniture 1000
17830
Current Assets
Cash 1300
Acc Rec 6000
Less: PROV FR BD 300 5700
Closing Inventory 2980
Prepaid Insurance 60
Total Current Assets 10040

Total Assets 27870

 Income Statement
Revenue Amt Amt Balance Sheet
sales 1040000 Equity and Liability
Less: Return Inward 20000 1020000 Share Holders Equity

Less: COGS Reserve and Surplus

open inventory 82000 Surplus
purchase 285000 General Reserver
Less: Return outward -15000 Retained Earning
Carraige Inward 27000
total goods available 379000 Liabilities
Less: Closing Inv 50000 329000 Acc Payable
Loan
Gross Profit 691000 Salary Payable
Rent Payable
Operating Expense Interest Payable
Rent Expense 55000
Add: Rent Payable 5000 60000 Total E & L
Salary Expense` 150000
Add: Salary Payable 12000 162000 Assets
Electricity Charge 29500 Cash
General Expence 5500 Building 300000
Admin. Expence 115500 Less:Dept 75000
Selling and Distribution 45275 Land
legal expence 17000 Plant and M 800000
Advt. Expence 35000 Less: Dept 200000
Bad Debt 5500 Acc. Receivable 110000
Interest Paid 50000 Less: Bad Debt 5500
Audit Fees Paid 20000 Closing Inventory
Invest Bond
Total Operating Exp 545275 Interest Rec

EBITDA 145725 Total Assets

Less: Depriciation Build 15000

Less: Depriciation Plant 50000

EBIT 80725

Interest Income 250

Net Profit 80975

e Sheet

1000000

80975
25000
38000

35775
500000
12000
5000
25000

1721750

532,000

225000
200000

600000

104500
50000
10000
250

1,721,750
 Income Statement for 31st March 2013 Balance Sheet as on 31st March 2013
Revenue Amt Amt Liability and Equity
Sales(Less: Return) 123400 Share Holder Funds:
Less: Discount in Sales -1400 Capital Account
Net Sales 122000 Reserve and Surplus
Less: Drawing Account
Less: COGS Balance in PL Statement
Raw Materials on 1/4/12 3500
Purchase of Raw Materials 35000 Non-Current Liability:
Wages 27000 Loan
WIP on 1/4/12 2000
Finished Stock on 1/4/12 18000 Current Liability:
Carriage Inward 1100 Sundry Creditor
Less: Discount -2100
Total Goods Available 84500 Total L & E
Less: Closing Inventory 4000
Less: WIP on 31/3/13 4500 Assets
Less: Finished Stocks 28000 48000 Current Assets:
Cash in Hand
Gross Profit 74000 Cash in Bank
Sundry Debitors
Operating Expenses Closing RM
Salary of Managers 5600 WIP
Factory Expense 3400 Finished Goods
Advertising Expense 3000
Office Rent & Insurance 4800 Fixed Assets:
Printing & Stationary 1000 Patent
Office Expenses 5800 Plant and Machinery
Bad Debt 750 Land and Building
Carraige Outward 600
Royalties 1200 Total Assets
Factory Rent & Tax 2500
Total Operating Expense 28650

Net Profit 45350

t as on 31st March 2013

41000
45350
-6100
80250

4000

45000

129250

250
4000
40500
4000
4500
28000 81250

2000
20000
26000 48000

129250
 Income Statement for the year ended
31st March 2013
Revenue Amt Amt
Sales 320000
Less: Sales Returns -10000
Net Sales 310000

Less COGS:
Opening Stock 40000
Purchase 180000
Less: Return Outward -7000
Wages 42000
Freight Charges 8000
Octroi Charges 11000
Carriage 4000
Power and Fuel 6000
Total Goods Avl 284000
Less: Closing Stock 60000 224000

Net Profit 86000

 Pioneering Company
Income Statement
For Year Ended 31st Dec 2012
Revenue Amt Amt
Sales 137200
Less: Return 2200 Interest Income
Net Sales 135000 Add Accrued

LESS: COGS
Opening Inventory 60500 Commission Rec
Purchases 90300 Less: Unearned
LESS: Retrun -1300
 500
500
1000

3000
1000
2000 In Come St