THE FINAL ACCOUNTS OF LIMITED LIABILITY COMPANIES

FINANCIAL ACCOUNTING SSS3 FIRST TERM        

WEEK 8

THE FINAL ACCOUNTS OF LIMITED LIABILITY COMPANIES

Contents

Format of Trading Profit & Loss account

Trading Profit & Loss account for the year ended 31/12/9x

Opening Stock                       x                  Stock                               x

Add purchases                       x                  Less return inward            x

Less return outward     x        x                  Gross loss                        x

Cost of goods available           x

Less closing stock                  x

Cost of sales                          x

Gross profit c/d                     x       

                                           X                                                        x

Expenses                                               Gross profit b/d                x

Wages & salaries                   x                  Income from quoted In.    x

Rent & Rate                          x                  Rent receivable                 x

Depreciation of assets            x                  Discount received              x

Directors' remuneration           x                  Other incomes                  x                 

Auditors' remuneration            x                                                        x

Advertising                           x

…