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I need the SOFP Encik Zharif Income Statement For the year ended 30th june 2013 Sales RM1.70,000 Less: Transportation inwards RM 600 RM 1,69,400 Less:Cost
I need the SOFP
Encik Zharif Income Statement For the year ended 30th june 2013 Sales RM1.70,000 Less: Transportation inwards RM 600 RM 1,69,400 Less:Cost of Goods Sold Gross Profit -RM1,14,800 RM 54,600 Transportation outwards RM Discounts allowed RM Discounts received -RM Advertising(3000-500) RM Water, electricity and Telephone(2000+600) RM Interest Expenses RM Depreciation Expenses RM Salesman Salaries RM 1.000 900 3.000 2.500 2.600 500 7.000 6.000 RM 17,500 RM 37,100 Net Profit Post Ref No Credit Date Account Title 30-06-13 Prepaid Advertisement Advertising Debit RM 500 RM 500 RM 600 30-06-13 Water, electricity and Telephone Utility Payable RM 600 RM 500 30-06-13 Drawings Cash purchases RM RM 300 200 RM 500 30-06-13 Interest Expenses Interest Payable (RM 25,000*4%*6/12) RM 500 RM 7,000 30-06-13 Depreciation Expenses Accumulated Depreciation-Motorvan RM 7.000 30-06-13 Inventory(1 July 2012) Purchases(RM 1,00,000-200) Return outwards Closing Inventory Cost of Goods Sold(Balancing figure) RM 48.000 RM 99.800 RM 1,000 RM 32,000 RM1.14,800 RM1,47,800 RM1.47.800Step by Step Solution
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