Recording Business Transactions

RECORDING BUSINESS
TRANSACTIONS

TABLE OF CONTENTS
TABLE OF CONTENTS................................................................................................................2
QUESTIONS...................................................................................................................................1
a.) Income Statement of K. Green for the year ending 31st January 2020...................................1
b) Statement of Financial position...............................................................................................1
c) Calculation of ratios.................................................................................................................2
REFERENCES................................................................................................................................6

QUESTIONS
a.) Income Statement of K. Green for the year ending 31st January 2020.
Income Statement for the year ending 31st January 2020.
Particulars Amount
Revenues 389290
Cost of Sales
Opening Stock 72410
Purchases 253570
Closing Stock 99504 226476
Carriage Inwards 760
Gross Profits 162054
Operating Expenses
Carriage Outwards 2850
Motor Expenses 1490
Rent 8200
Telephone Charges 680
Wages and Salaries 39600
Insurance 745
Office expenses 392
Sundry expenses 216 54173
Net profit 107881
b) Statement of Financial position.
Statement of Financial Position for the year ending 31st January 2020.
ASSETS
Non Current Assets
Van 5650
Office Equipments 7470
13120
Current Assets
1