Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes: Trading and Profit and Loss Account/Income Statement Example
From the following trial balance of S Madondo, extracted after one year’s trading, prepare a trading and profit and loss account for the year ended 31 December 20X6. A balance sheet is not required.
|Cash at bank||16519|
|Cash in hand||342|
- Stock at 31 December 20X6 was $12,408
Trading and Profit and Loss Account for the year ended 31 December 2016
|Less Cost of Goods Sold:|
|Less closing stock|
To access more topics go to the Cambridge IGCSE Accounting(0452)/O Level Principles of Accounts(7110) Notes.
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