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Statement of Operations and Changes in Equity Sample

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10 views

Statement of Operations and Changes in Equity Sample

Uploaded by

ayeerahcali
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Statement of Operations

M Enterprises
Statement of Operations
For the Year Ended December 31, 2020
Net Sales
Gross Sales ₽ 12,000,000
Less: Sales Discount ₽ 50,000
Sales Returns & Allowances 100,000 150,000
Net Sales ₽ 11,850,000
Cost of Sales
Merchandise Inventory, Beginning ₽ 1,200,000
Purchases ₽ 5,000,000
Less: Purchase Discount ₽ 100,000
Purchase Returns & Allowances 200,000 300,000
Net Purchases ₽ 4,700,000
Freight –In 50,000
Net Cost of Purchases 4,750,000
Total Goods Available For Sale ₽ 5,950,000
Less: Merchandise Inventory, Ending 300,000
Cost of Sales 5,650,000
Gross Profit ₽ 6,200,000
M Enterprises
Statement of Operations
For the Year Ended December 31, 2020
Operating Expenses
Selling Expenses
Freight –Out ₽ 100,000
Sales Salaries & Wages 1,250,000
Depreciation Expense –Sales Building 300,000
Depreciation Expense –Store Equipment 150,000
Depreciation Expense –Store Furniture 60,000
Depreciation Expense –Delivery Truck 100,000
Rent Expense –Store 400,000
Advertising Expense 120,000
Sales Supplies Expense 300,000 ₽ 2,780,000
Administrative Expenses
Office Salaries & Wages ₽ 150,000
Depreciation Expense –Office Building 150,000
Depreciation Expense –Office Equipment 40,000
Depreciation Expense –Office Furniture 60,000
Office Supplies Expense 50,000
Doubtful Accounts 25,000 475,000
Total Operating Expenses 3,255,000
Operating Profit ₽ 2,945,000
M Enterprises
Statement of Operations
For the Year Ended December 31, 2020
Cont.
Operating Profit ₽ 2,945,000
Add: Net Financing Income
Interest Income ₽ 120,000
Less: Interest Expense 100,000 20,000
Net Profit ₽ 2,965,000
M Enterprise
Statement of Changes In Equity
For the Year Ended December 31, 2020

Beginning M, Capital ₽ 7,990,000


Add: Net Profit 2,965,000
Total ₽ 10,955,00
Less: Withdrawals 150,000
Ending M, Capital ₽ 10,805,000

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