Fin611 Solution Spring 2012
Wednesday, May 02, 2012 Edit Thisdekhen apko is meh income statement banani hai 1st all revenues add kar len then expense add kar len seprate kar k then as u know
income statement shows net profit so
net profit = revenues - expenses
Income and Expenditure Account
For the year ended on 31st December 2011
INCOME
Subscription (450*1000) 450000
Profit on sale of events ticket 310000
Profit on investment s 200000
______________
Total Income 960000
Less :
Expenditure
Salary 416000
Stationery (80000-18000) 62000
Rent (120000+10000) 130000
Electricity 20000
Repairs 80000
General Expenses 100000
Bad Debts (9000-8000) 1000
Depreciation on Building 100000 (431000)
______________ ________________
431000 52900
