ACCOUNTANCY WORK EXPERIENCE TOOLKIT - ICAEW
ACCOUNTANCY WORK EXPERIENCE TOOLKIT - ICAEW
ACCOUNTANCY WORK EXPERIENCE TOOLKIT - ICAEW
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Worksheet 11 – Profit and loss account<br />
transfer all the figures from the trial balance marked p&l account £ £<br />
Sales 177,844.49<br />
Less:<br />
Cost of sales<br />
Opening stock 11,256.00<br />
Purchases 98,525.57<br />
Less closing stock -25,000.00 84,781.57<br />
Gross profit 93,062.92<br />
Less expenses:<br />
Director's salary 10,435.56<br />
Wages 38,526.50<br />
Tax, NIC 4,202.56<br />
Postage and stationery 693.63<br />
Heat, light 1,187.83<br />
Rates, water 2,667.22<br />
Motor expenses 6,021.10<br />
Repairs, renewals 2,350.21<br />
Depreciation 10,924.96<br />
Entertaining 1,679.15<br />
Sundry 3,988.79<br />
Net profit (balancing figure) 10,385.41<br />
24<br />
© <strong>ICAEW</strong> 2012
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