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Financial Report

The document is the income statement of Company XYZ for the year ended 31 December XX. It shows the company's net sales were xx after deductions for sales discounts and returns. Cost of goods sold was xx, resulting in a gross profit of xx. Total operating expenses were xx, giving an operating profit of xx. After accounting for non-operating revenue and expenses of xx, net income before tax was xx. After paying xx in tax expenses, the net income after tax for the year was xx.

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83 views2 pages

Financial Report

The document is the income statement of Company XYZ for the year ended 31 December XX. It shows the company's net sales were xx after deductions for sales discounts and returns. Cost of goods sold was xx, resulting in a gross profit of xx. Total operating expenses were xx, giving an operating profit of xx. After accounting for non-operating revenue and expenses of xx, net income before tax was xx. After paying xx in tax expenses, the net income after tax for the year was xx.

Uploaded by

Anthony John
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Company XYZ

Income Statement
For the year ended 31 December XX

I. Sales
Sales xx
Sales Discount (xx)
Sales Return (xx )+
Net Sales xx (1)

II. Cost of Goods Sold


Beginning Inventory xx
Purchases xx
Freight in xx
Purchase Discount (xx)
Purchase Return (xx)+
Net Purchases xx +
Goods Available for Sales xx
Ending Inventory (xx)
Cost of Goods Sold (xx) (2)
Gross Profit xx (3)

III. Operational Expenses


Supplies Expense xx
Advertising Expense xx
Salaries Expense xx
Electricity Expense xx
Rent Expense xx
Depreciation Expense xx
Miscellaneous Expense xx +
Total Operating Expense (xx) (4)
Operating Profit xx (5)

IV. Non Operating Revenue and Expenses


Non operating Revenue
Interest Revenue xx
Other Revenue xx
Asset sales Revenue xx +
Total Non Operating Revenue xx

Non Operating Expenses


Interest Expense xx
Administration Bank Expense xx +
Total Non Operating Expense (xx)

Total Non Operating Revenue & Expenses xx (6)


Net Income before tax xx (7)
Tax Expenses (xx) (8)
Net Income after tax xx (9)
Company XYZ
Statement of Change in Equity
As of 31 December 2011

Beginning Capital xx
Net Income after tax xx (Profit or loss)
New paid capital xx (If any)
Prive (xx)
End Capital xx

Company XYZ
Balance Sheet
As of 31 December 2011

Assets Liabilities

Current Asset Current Liabilities

Cash xx Account Payable xx


Bank xx Notes Payable xx
Account Receivable xx Salary Payable xx
Notes Receivable xx Interest Payable xx
Inventory xx Unearned Revenue xx +
Supplies xx
Prepaid Rent xx Total Current Liabilities xx
Prepaid Insurance xx +
Total Current Asset xx
Long Term Liabilities
Fixed Asset
Land xx Bank Payable xx
Building xx Bond Payable xx +
Accum. Deprec. Building (xx)
Machine xx Total Long Term Liabilities xx
Accum. Deprec. Machine (xx)
Equipment xx
Accum. Deprec. Equipment (xx) + Equity
Total Fixed Asset xx
Stakeholders Equity xx

Total Assets xx Total Liabilities & Equity xx

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