Professional Documents
Culture Documents
Name of Business
Trading and Profit and Loss Account for the year ended 31 December 2010
$ $
Opening stock + Sales +
Purchases + Less: Sales returns -
Less: Purchases returns - =
Carriage inwards + Or
Less: Stock loss - Cash sales +
Less: Drawings of stock - Credit sales +
Less: Closing stock - Total sales =
Cost of Sales =
Gross profit ?
TL =
Net Profit X
X X