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Fin611 Solution Spring 2012

Wednesday, May 02, 2012 Edit This
dekhen 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

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