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am i doing this right ? need help with tje expenses part thanks :) The transactions above have been journalised and posted. The statem Skate

am i doing this right ? need help with tje expenses part thanks :) image text in transcribed
image text in transcribed
The transactions above have been journalised and posted. The statem Skate 'n' Surf Statement of profit or loss for the period 1 June to 30 June 20XX Revenue Sales revenue Sales revenue 27,890 Less: Sales returns and allowances 380 Net sales revenue 27,510 Less: Cost of sales 15,500 Gross profit 12,010 Other revenue: Discount received 2,400 14,410 Expenses Advertising expense 1,150 Depreciation expense 438 Discount allowed 300 Insurance expense 410 Interest expense 154 Postage and stationery expense 120 Superannuation exepnse 57 Wages expense 600 Total expenses 3,229 Net profit/(loss) $11,181 Details Post ref. Debit Credit Date 20XX June 30 Sales revenue 27,890 Discount received 2,400 380 Sales returns and allow (To close revenue accounts) 30 V Cost of sales Advertising expense Depreciation expense Discount allowed Insurance expense Interest expense Postage and stationery exi Superannuation expense Wages expense (To close expense accounts) 30 v Capital (To close profit to capital account)

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