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How to calculate profit and loss statement
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 |
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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. |
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