Profit and Loss Income Statement

Profit and Loss Income Statement

Am I correct in saying that if a figure appears in brackets in my income statement it refers to a credit?

I think I captured a payment as a deposit received instead of payment made in my cashbook. Learner...

Profit and Loss Statement Credit Question

Profit and Loss Statement

Should credits for your credit card be showing on your profit and loss statement?

Profit And Loss Financial Statements

by Peaches De Fraitus
(Trinidad)

Profit and Loss Financial Statements

Which one asset account will always be carried over from the unadjusted trial balance columns of a work sheet to the balance sheet columns of the work sheet without any adjustments being made to the profit and loss statement?

Owner Services Affecting The Profit And Loss Statement

by Tom
(Pittsburgh)

Profit and Loss Income Statement

Hi, I am the owner of a construction corporation.

Being the primary carpenter on the jobs I do, the money I pay myself in Quikbooks Accounting Software is expensed through as follows.

Service performed by subcontractor, then the owner equity account, then the job expense account.

My question though is should this amount reduce the profit and loss statement? Please explain.

Thanks so much, Tom

Profit and Loss Statement Account

by Ashu
(India)

Profit and Loss Statement Account

What will we find in the Profit and Loss Statement Account?

How it is useful for our business?

Profit And Loss Statement Inventory Valuation

by Assistant Store Mgr

P&L Inventory Valuation

I am an Assistant Store Manager and need a better understanding of what is inventory invaluation?

Profit and Loss Statement Percent Question

by CHESTA
(PALAMPUR)

Profit and Loss Statement Percent

Rohit bought a tape recorder for RS 1,500 and sold it for RS 1,800.

Will you please calculate it's profit and loss percent for me?

Profit and Loss Statement Profit Sharing

Profit and Loss Statement Profit Sharing

At this time in order for my company to keep track of how much our future contributions are going to be every payroll cycle we put the amount on tallied in Excel into our what we named the virtual account. Is there a better way to keep track of what will be going out at the end of the year, and if so can you please share?

Thank you

Also can you suggest any systems that can help with double bookkeeping both in excel and Quickbooks, or is there no solutions yet, because other places I have worked always used both the accounting system and excel.

My goal is to use just one database.

Thank you again

Profit and Loss Statement Question

by Anjali
(Kollam)

Profit and Loss Statement

A man bought eggs at Rs 9.60 per dozen. At what price per hundred must he sell them so as to earn a profit of 15%.

Profit & Loss Statement Reports

Profit and Loss Statement Report

Should sales tax collected and paid be shown as an income/expense account on a profit & loss statement?

P&L Financial Statement Question

by Sadie Burke
(Ireland)

P&L Financial Statement

From the following information prepare:

1 ) Profit and Loss Appropriation A/C for year ended 31.12.2005

2) Balance Sheet extract as at 31.12.2005 showing Shareholders funds and Capital Employed.


3) Trial Balance as at 31.12.2005, issued ordinary Share Cap €1 each 500,000

4) P & L (credit) Balance 1.1.2005, 40,000

5) General Reserve 25,000

6) Term Loan 10,000


7) Note;

A) Ordinary Share Dividend 8% Declared(proposed) by directors
B) Transfer to General Reserve 15,000
C) Net Profit for year 68,000
D) Calculate Return on Shreholders Funds.
E) Return on Capital Employed.


P & L Appropriation A/C year ended 31.12.2005

ordinary Div 8% 40,000 Bal B/D 40,000
General Reserve 15,000 Balance C/D 53,000 Net profit 68,000, 108,000, Bal B/D 53,000

General Reserve A/C Bal B/D 25,000
P&L Appropriation A/C 15,000 Bal C/D 40,000 Bal B/D 40,000 40,000 Bal B/D 40,000

Balance Sheet year ended 31.12.2005
Current Liabilities
Ordinary Share Dividend 40,000

financed by:
Share Capital 367,000

reserves:
General Reserve 40,000

retained Profits P&L A/C 53,000 93,000

Shareholders Funds 460,000

Term Loan 10,000
470,000

Sample Profit and Loss Statement on Excel Worksheet

Sample Profit and Loss Excel Worksheet

How can I get a sample of a profit and loss statement on an excel worksheet as a example?

The Profit and Loss Statement

The Profit and Loss Statement

Hi everyone

1) We are working on the Profit and Loss and only changing the BUDGETED revenue and BUDGETED Net Profit figure

The current Budgeted Revenue and Budged Net Profit figure is as follows:

Current Budgeted Revenue : 200
Current Budgeted Profit: 160

His request is to:

increase revenue number to PLUS70 on the profit target

All we are looking at is adjusting the BUDGETED Figures. Actuals per the P&L will be compared to the above budgeted figures.

What do I need to do - do I just increase both revenue and net profit by 70K.

(I know I sound ignorant, but never went to work for him as a bookkeeper!!

We do not sell anything in terms of fixed goods. It is simply revenue in terms of our time charged to external parties.

Hopefully that helps. Again - I appreciate the time and effort you have all given to me. I am sorry I did not make myself clear to you. I have asked him for an explanation and was told that it is obvious what I have to do and need to deliver by Monday!

Thanks again - hopefully I will be able to help you all out.

Zero Income Big Expenses on Profit and Loss Statement

by Robert
(Vermont)

Income and Expense on Profit and Loss

I am a singer-songwriter. I didn't earn any money in 2010 but had a lot of expenses due to traveling and recording sessions. Can these expenses be deducted in future years?

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