Assignment on Accounts - The Profit and Loss Statement

Running head: ACCOUNTS
Accounts
Name of the Student
Name of the University
Author Note

1
ACCOUNTS
Table of Contents
Part A...............................................................................................................................................2
Balance Sheet as at October 31st 2019.............................................................................................3
Part B...............................................................................................................................................4
Cash Budget.....................................................................................................................................4
Part 3................................................................................................................................................5
Report Overview..........................................................................................................................5
Analysis of the cash flows...........................................................................................................5
Other Important Factors...............................................................................................................6
References........................................................................................................................................8

2
ACCOUNTS
Part A
The profit and loss statement has been well prepared for a sum of two months for the
month of September and October and accordingly the report has been prepared.
Profit and Loss Statement
Particulars
Septem
ber October
Sales
29,000,0
00
30,500,0
00
Less: Cost of Goods Sold
10,000,0
00
9,000,00
0
Gross Profit
19,000,
000
21,500,
000
Expenses
Salaries and Wages
2,900,00
0
2,900,00
0
Overheads and Utilities
5,600,00
0
5,600,00
0
Selling and Administrative
Cost
4,350,00
0
4,575,00
0
Interest Expenses 14,560 14,560
Depreciation 700,000 700,000
Total Expenses
13,564,
560
13,789,
560
Profit Before Tax
5,435,44
0
7,710,44
0
Less: Taxation @ 50%
2,717,72
0
3,855,22
0
Profit After Tax
2,717,7
20
3,855,2
20

3
ACCOUNTS
Balance Sheet as at October 31st 2019.
Balance Sheet as at 31st October 2019
Particulars $’000 $’000 $’000
Fixed Assets 164,800
Fixed assets at cost 69,800
Depreciation 95,000
Current Assets
Stocks – Raw materials 38,400
Stock – Finished goods 85,200 123,600
Accounts Receivable 52,500
Other assets 25,600
Bank and cash 8,752
210,452
Total Assets 305,452
Current liabilities
Accounts payable 14,000
Short – term loans 12,500
Accruals 14,800
Corporation tax payable 5,000
46,300
Current Liabilities 46,300
Long term loans 130,600
Total Liabilities 176,900
Capital and reserves
Share capital 90,000
Profit and loss account 38,552
Total Equity 128,552
Total Liabilities and Equity 305,452