Topic 2.2 Tutorial Exercise

Profit & Loss Statement

Sales 50000

Less Sales Return -4000

46000

Less COGS -24000

Gross Profit 22000

Add Discount Received 200

Adjusted Gross Profit 22200

Less Operating Expenses

Selling Expenses

Salary Expenses 7500

Discount Allowed 100

General Expenses

Utility Expenses 1500

Financial Expenses

Interest Expenses 2000

-11100

Net Profit 11100