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View Full Version : How to calculate profit and loss statement


adirish
Mar 19, 2010, 08:40 PM
Office Equipment $45000
Accrued expenses $1424
Prepaid insurance $ 1200
Selling expenses $ 2450
Bank overdraft $ 3755
Admin expenses $ 5276
Depreciation $ 12446
Fees collected $ 251700
Motor vehicle $ 18562
Bank fees $ 202
Maintenance $ 29780
Accumulated depreciation off equip $ 17500
Premises $ 105000
Tel & lighting expenses $ 7947
Interest $ 11075
Accumulated depriciation vehicle $ 8460
Wages $ 72933
Mortgage $ 72908
Motor vehicle expenses $ 6562
Creditors $ 15752
Computer expenses $ 2448
Drawings $ 3600
Stock $ 6540
Debtors $ 25985
Capital ?

Calculate capital figure

ROLCAM
Mar 20, 2010, 01:03 AM
Please , try and do your own homework!

morgaine300
Mar 21, 2010, 05:17 AM
At the top you're asking how to do a P&L and at the bottom what the capital balance is. You're obviously going to need that balance -- all you have to do is put your debits & credits in their proper columns and the capital is just the missing number. Remember both columns have to add up to the same thing.