The following is the profit and loss account for Nikov and Co. for the year ended 31
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The following is the profit and loss account for Nikov and Co. for the year ended 31 December 2005, along with information relating to the preceding year.
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Profit and loss account for the year ended 31 December 2004 2005 000 000 000 000 Sales revenue 382.5 420.2 Less Cost of sales 114.8 126.1 Gross profit 267.7 294.1 Less Salaries and wages 86.4 92.6 Selling and distribution costs 75.4 98.9 Rent and rates 22.0 22.0 Bad debts written off 4.0 19.7 Telephone and postage 4.4 4.8 Insurance 2.8 2.9 Motor vehicle expenses 8.6 10.3 Loan interest 5.4 4.6 Depreciation - Motor van 3.3 3.1 -Fixtures and fittings 4.5 4.3 216.8 263.2 Net profit (loss) 50.9 30.9
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Related Book For
Financial Accounting For Decision Makers
ISBN: 9780273688471
4th Edition
Authors: Eddie McLaney, Peter Atrill
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