PDA

View Full Version : Profit/Loss Statement


Ezeigwe1
Aug 5, 2014, 12:19 PM
I have inventory of many collectible items that I just started listing on Ebay. I have not sold any yet. How do I post this in my profit/Loss statement? My bank is requesting for a profit/ lost statement.

ma0641
Aug 5, 2014, 04:18 PM
You don't have any profits or losses since you haven't sold anything, the items are considered assets.

paraclete
Aug 5, 2014, 04:32 PM
In the income statement you have the line item purchases and you also have the line item closing stock