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    Format - Sole Trader Final Accounts

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    achala
    The document provides the final accounts for XYZ Enterprises, a sole trader, for the year ending XXXX. It includes the trading and profit/loss account which shows a gross profit of XXXX and a net profit of XXXX. It also includes the balance sheet as of XXXX which lists the company's assets (including fixed assets of XXX and current assets of XXX), capital and retained earnings of XXXX, long term bank loan of XXXX, and current liabilities of XXX leaving the balance sheet balanced at XXXX.

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    Format - Sole Trader Final Accounts

    Uploaded by

    achala
    239 views4 pages
    The document provides the final accounts for XYZ Enterprises, a sole trader, for the year ending XXXX. It includes the trading and profit/loss account which shows a gross profit of XXXX and a net profit of XXXX. It also includes the balance sheet as of XXXX which lists the company's assets (including fixed assets of XXX and current assets of XXX), capital and retained earnings of XXXX, long term bank loan of XXXX, and current liabilities of XXX leaving the balance sheet balanced at XXXX.

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    Format_Sole Trader Final Accounts

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    The document provides the final accounts for XYZ Enterprises, a sole trader, for the year ending XXXX. It includes the trading and profit/loss account which shows a gross profit of XXXX and a net profit of XXXX. It also includes the balance sheet as of XXXX which lists the company's assets (including fixed assets of XXX and current assets of XXX), capital and retained earnings of XXXX, long term bank loan of XXXX, and current liabilities of XXX leaving the balance sheet balanced at XXXX.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    239 views4 pages

    Format - Sole Trader Final Accounts

    Uploaded by

    achala
    The document provides the final accounts for XYZ Enterprises, a sole trader, for the year ending XXXX. It includes the trading and profit/loss account which shows a gross profit of XXXX and a net profit of XXXX. It also includes the balance sheet as of XXXX which lists the company's assets (including fixed assets of XXX and current assets of XXX), capital and retained earnings of XXXX, long term bank loan of XXXX, and current liabilities of XXX leaving the balance sheet balanced at XXXX.

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    © All Rights Reserved
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    FINAL ACCOUNTS FOR SOLE TRADERS

    XYZ Enterprises
    Trading, Profit and Loss Account for the year ending XXXX
    Sales XXXX
    Less: Returns inwards (XX) XXXX

    Less Cost of good sold


    Opening stock XX
    Purchases XXXX
    Less: Goods Withdrawn (XX)

    Add: Carriage inwards


    XX
    Cost of the goods available for re-sale XXXX
    Less: Return outwards (XX)
    Less: Closing stock (XXX) (XXX)

    Gross Profit /(loss) XXXX

    Add: Non operating income


    Discount Received XX
    Investments Income XX
    Gains on property sales XX
    Over provision of doubtful debts XX

    Less: Expenses
    Administrative Expenditure
    Salaries XX
    Rent XX
    Stationary XX
    Utility expenses XX
    Depreciation (Building, Furniture, etc) XX
    Insurance XX
    Office expenses XX
    (XXXX)

    Selling and distribution Expenditure


    Advertising XX
    Sales commission XX
    Discount Allowed XX
    Bad debt/under provision of doubtful debts XX
    Carriage Outwards XX

    M.V.Depreciation (XXXX)
    XX
    Financial Expenses
    Bank interest/ Loan Interest XX
    Bank Charges XX (XXX)

    Net Profit/loss XXXX


    XYZ Enterprises
    Balance Sheet as
    at XXXX
    Accumulated
    Fixed Assets Cost Net Value.
    Depreciation

    Land XX - XX
    Buildings XX (X) XX
    Machinery XX (X) XX
    Motor vehicle XX (X) XX
    Fixtures and fittings XX (X) XX
    XXX XX XXX

    Current Assets
    Closing Stock XX
    Debtors XX
    Less: Provision for doubtful
    (XX)
    debts
    Cash in Bank XX
    Cash at hand XX XXX
    XXX

    Capital XXXX
    Add :Net profit for the year XXX
    Less: Drawings (XX) XXXX

    Long term liabilities


    Bank loan XXXX

    Current Liabilities
    Trade Creditors XX
    Accrued expenses XX
    Bank Overdrafts XX
    XXX

    XXX
    XXX

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