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ACC 2208 FORMAT FS - Sole Trader

The document provides financial statement formats for a sole proprietorship including an income statement and statement of financial position. The income statement outlines revenues, costs, expenses and net profit/loss. The statement of financial position lists assets, liabilities and owner's equity.

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9K views3 pages

ACC 2208 FORMAT FS - Sole Trader

The document provides financial statement formats for a sole proprietorship including an income statement and statement of financial position. The income statement outlines revenues, costs, expenses and net profit/loss. The statement of financial position lists assets, liabilities and owner's equity.

Uploaded by

HAHAHA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
  • Income Statement
  • Statement of Financial Position
  • Current Liabilities

FINANCIAL STATEMENT FORMAT - SOLE PROPRIETORSHIP

Name of the Business

Income Statement for the year ended XXXX

Sales x
Less Sales return / Return Inward (x)
Net sales x
Less Cost of sales
Opening Stock/ Inventory x
Purchases x
Less Purchases return / Return Outward (x)
Net purchases x
Add Carriage Inward / Freight charges x
Add Custom Duties x
x
Less Closing Stocks (x) x/(x)
Gross Profit / (Gross Loss) x/(x)

Add REVENUE
Discount Received x
Commission received x
Income from investment x
( any other income received or earned for the year) x X
X
Less EXPENSES
Salary x
Discount allowed x
Advertising expense x
Carriage outward x
Depreciation expenses x
Bad debts expenses x
(any other expenses paid or incurred for the year) x (X)
Net Profit / Net Loss x/(x)
FINANCIAL STATEMENT FORMAT - SOLE PROPRIETORSHIP

Statement of Financial position as at XXXX

Non Current Asset COST ACCUMULATED Net Book value

DEPRECIATION

Plant & Equipment xx (xx) xx


Furniture & Fittings xx (xx) xx
Motor Vehicle xx (xx) xx
Machinery xx (xx) xx
xx (xx) xx
Intangibles
Goodwill xx
Patents xx
Copyright xx
Trademarks xx
Investments long term xx
Total Non Current Assets XX

CURRENT ASSETS
Cash at bank xx
Petty cash / cash in hand xx
Debtors/ Receivables xx
Provision for Bad Debts (x) xx
Closing stocks / inventories xx
Accrued income * xx
Prepaid expenses * xx
Total Current Assets xxx
TOTAL ASSETS XX

Owners Equity and Liabilities


Capital xx
Net Profit / (Net Loss) xx/(xx)
xx
Drawings (xx)
Total Equity XX
Non Current Liabilities
Mortgage Loan xx
Term loan xx
Total Non Current Liabilities XX
FINANCIAL STATEMENT FORMAT - SOLE PROPRIETORSHIP

CURRENT LIABILITIES
Creditors xx
Bank Overdraft xx
Short term loan xx
Prepaid income * xx
Accrued expenses * xx
Total Current Liabilities XX
Total Equities and Liabilities XX

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