The Profit and Loss statement example
Loading
Previous Topic Previous slide Next slide Next Topic
New course

This Course has been revised!

For a more enjoyable learning experience, we recommend that you study the mobile-friendly republished version of this course.

Take me to revised course.

- or -

Continue studying this course

The Profit and Loss statement example

  • Study Reminders

    Set your study reminders

    We'll email you at these times to remind you to study

    You can set up to 7 reminders per week

    You're all set

    We'll email you at these times to remind you to study

    Monday

    -

    7am

    +

    Tuesday

    -

    7am

    +

    Wednesday

    -

    7am

    +

    Thursday

    -

    7am

    +

    Friday

    -

    7am

    +

    Saturday

    -

    7am

    +

    Sunday

    -

    7am

    +
  • Study Notes
  • Discuss This Topic
    Bill Tehaitanata K.
    PG
    Bill Tehaitanata K.

    Operating expenses up.

    Santosh K.
    QA
    Santosh K.

    high wages on adverting and this statement shows net gross loss

    Tashika B.
    US
    Tashika B.

    This chart is rather confusing if I do say so myself

    BabaJide Martins F.
    TR
    BabaJide Martins F.

    @Alexander Agyei Amankwah, Agreed! The rent stands as fixed. The depreciation of motor vehicle and Office equipment are to be treated in PLC account.

    Alice B.
    GQ
    Alice B.

    According to the table, there is an increase in sales and the money was deposited at the bank. leading to an increase in bank balance, on the other hand there is a loss due to increase in expenses.

    Hermina S.
    LC
    Hermina S.

    The business is at a loss due to less sales.

    Hermina S.
    LC
    Hermina S.

    There is an increase in the bank balance because the depreciation expenses does not necessarily involve a payment of cash with that specific period/time.

    Morne V.
    ZA
    Morne V.

    Gross profit less than running expenses cause by the very high cost of the goods sold thus a loss.How can such a situation be checked?

    Sunday O.
    NG
    Sunday O.

    interesting

    Rodger B.
    ZM
    Rodger B.

    depreciation of an asset does not affect profit and loss account.It appears on a balance sheet.A loss of 300 was made according to profit and loss statement.Total depreciation showing on a profit and loss statement is also 300.The business broke even.Then rent 800 is an asset.It should be in the bank and appear under current assets on a balance sheet.and not profit and loss unless it is the line of business.Hence increased bank balance.

  • Text Version
Notification

You have received a new notification

Click here to view them all