Page 85 - Ebook Financial Accounting 3
P. 85
Q 4.2
Statement of Comprehensive Income
RM RM RM
Sales 421,500
(-) Return inwards (5,250) 416,250
COGS
Beg. inventory 42,000
Purchase 228,750
(-) Return outwards (2,250) 226,500
(-) End. inventory (45,000) (223,500)
Gross profit 192,750
(-) Expenses
Carriage outwards 4,500
rental 1,500
Salaries 39,000
Insurance expenses 9,000
Electricity 6,450
advertising 7,500
Directors’ emoluments 18,000
Depreciation of vehicle 18,000
Debenture interest 2,400 (106,350)
PROFIT BEFORE TAX 86,400
(-) TAX 28% (24,192)
PROFIT AFTER TAX 62,208
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