Income Statement and Balance Sheet
Income statement:
Sales or revenue
Less:Sales return
Cost of sales includes:
Opening stock
Add:purchase
Less:purchase return
Add:manufacturing expense
Add:carraige inward
Then less the CLOSING STOCK THEN u have COST OF SALES ND DEDUCT COST OF SALES FROM SALES U WILL GET GROSS PROFIT
then add OTHER INCOME nd less OPERATING EXPENSES u will get NET PROFIT.. THIS IS ALL ABOUT STATEMENT OF COMPREHENSIVE INCOME.
BLNC SHEET :
CAPITAL, NON CURRENT LIABALTIES, CURRENT LIABALITIES
AND ON OTHER SIDE NON CURRENT ASSETS ND CURRENT ASSETS..
Sales or revenue
Less:Sales return
Cost of sales includes:
Opening stock
Add:purchase
Less:purchase return
Add:manufacturing expense
Add:carraige inward
Then less the CLOSING STOCK THEN u have COST OF SALES ND DEDUCT COST OF SALES FROM SALES U WILL GET GROSS PROFIT
then add OTHER INCOME nd less OPERATING EXPENSES u will get NET PROFIT.. THIS IS ALL ABOUT STATEMENT OF COMPREHENSIVE INCOME.
BLNC SHEET :
CAPITAL, NON CURRENT LIABALTIES, CURRENT LIABALITIES
AND ON OTHER SIDE NON CURRENT ASSETS ND CURRENT ASSETS..
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