ParticularsTo Cost of goodssoldTo AdministrativeExpensesTo SellingexpensesTo net profit200412,0004006003,00016,000200515,0004008003,80020,000ParticularsBy NetSales2004200516,000 20,00016,000 20,000 From the following Profit and Loss account prepare a Common Size Income Statement.

Income statement is the financial statement which helps the entity to determine its profitability.…

Particulars To Cost of goods sold To Administrative Expenses To Selling expenses To net profit 2004 12,000 400 600 3,000 16,000 2005 15,000 By Net Sales 400 800 Particulars 3,800 20,000 2004 2005 16,000 20,000 16,000 20,000

Particulars To Cost of goods sold To Administrative Expenses To Selling expenses To net profit 2004 12,000 400 600 3,000 16,000 2005 15,000 By Net Sales 400 800 Particulars 3,800 20,000 2004 2005 16,000 20,000 16,000 20,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Particulars
To Cost of goods
sold
To Administrative
Expenses
To Selling
expenses
To net profit
2004
12,000
400
600
3,000
16,000
2005
15,000
400
800
3,800
20,000
Particulars
By Net
Sales
2004
2005
16,000 20,000
16,000 20,000

From the following Profit and Loss account prepare a Common Size Income Statement.

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