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P & L Account Format

The document outlines a Trading & Profit & Loss Account template for XYZ Company, detailing the financial performance for a specific year. It includes sections for net sales revenue, cost of goods sold, gross profit or loss, operating expenses, operating income, and non-operating income and expenses. The final figure presented is the net profit or loss, which is transferred to capital accounts.

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jeevanprakaskk
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463 views3 pages

P & L Account Format

The document outlines a Trading & Profit & Loss Account template for XYZ Company, detailing the financial performance for a specific year. It includes sections for net sales revenue, cost of goods sold, gross profit or loss, operating expenses, operating income, and non-operating income and expenses. The final figure presented is the net profit or loss, which is transferred to capital accounts.

Uploaded by

jeevanprakaskk
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

Name of the Company _______________

Trading & Profit & Loss Account of XYZ Company for the Year Ending On______
(Rupees in ______)

Particulars Notes Amount Amount


Net Sales Revenue

(Sales - Sales Returns) XXX

Less: Cost Of Goods Sold

Opening Stock XXX

Net Purchases (Purchases - Purchase Returns) XXX

Carriage Inward or Freight Charges XXX

Wages XXX

Manufacturing Expenses or Factory Charges XXX

Custom Duty or Clearnce Charges XXX

Coal, Gas, Water, Fuel, Power Etc.. XXX

XXX

Less: Closing Stock XXX

Cost of Goods Sold XXX

GROSS PROFIT OR GROSS LOSS XXX


Less: Operating Expenses
Administrative Expenses
Salaries XXX
Rent, Rates & Taxes XXX
Printing & Stationary XXX
Postage, Telegrams, Telephone XXX
Repair & Maintenance XXX
Insurance XXX
Audit Fee XXX
Legal Charges XXX
Bank Charges XXX
Depreciation XXX
Miscellaneous Expenses XXX
Selling & Distribution Expenses

Trade Expenses XXX

Advertisment XXX

Carriage Outwards XXX

Travelling Expenses XXX

Commission Paid XXX

Discount Allowed XXX

Entertainment Expenses XXX

Bad Debts XXX

Add: New Reserve for Doubtful Debts XXX

XXX

Less: Old Reserve for Doubtful Debts XXX

Reserve for Discount on Debtors Etc. XXX XXX XXX

Add: Operating Incomes

Commission Received XXX

Discount Received XXX

Appreciation of Assets XXX

Reserve for Discount on Creditors XXX

Miscellaneous Income XXX XXX

XXX

Operating Profit XXX

Add: Non-Operating Incomes

Rent Received XXX

Interest Received XXX

Interest on Drawings XXX

Interest on Investment XXX

Profit on Sale of Assets XXX XXX


XXX

Less: Non Operating Expenses

Interest on Capital XXX

Interest Paid XXX

Loss on Sale of an Assets XXX XXX

NET PROFIT OR NET LOSS XXX

(Transferred to Capital Accounts)

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