The Total solution for NCERT class 6-12
Income statement for the period ended ….
Particulars
Amount
₹
Sales
Less: Sales returns (Return inwards)
Total Sales Revenue
Cost of goods
Purchases
Less: Purchase returns (Return outwards)
Carriage on purchases
Wages
Add: Outstanding wages
Less: Prepaid wages
Fuel and power
Factory rent
Installation or erection of machines
Octroi
Less: Closing stock
Gross Profit/Gross Loss (whichever is applicable)
Operating Expenses/Losses
Selling Expenses/Losses
……………………
Total Selling expenses
General & Administrative expenses/losses
Total General & Administrative Expenses
Total Operating Expenses/Losses
Balance sheet
Current Assets
Prepaid expenses
Total current assets
Current Liabilities
Total current Liabilities
Non-Current Assets
Total non-current assets
Non-Current Liabilities
Total non-current Liabilities
Capital