Balance Sheet and PNL Flashcards
(27 cards)
What is on a Balance Sheet
Fixed Assets, Current Assets, Less current liabilities, ;less long-term liabilities, net assets, Financed by Capital and Add Profit, Less Drawings
What is on a Trading PnL
Sales, less sales returns inwards, less cost of goods sold, less returns outwards, less closing stock, gross profit, less expenses, add income, net profit
Fixed Assets
Balance Sheet
Current Assets
Balance Sheet
Less current liabilities
Balance Sheet
Less Long-term Liabilties
Balance Sheet
Financed by Capital and Add Profit
Balance Sheet
Less Drawings
Balance Sheet
Sales - Less returns inwards
Trading PnL
Less cost of goods sold
Trading PnL
Less returns outwards
Trading PnL
Less Closing Stock
Trading PnL
Less Expenses
Trading PnL
Add Income
Trading PnL
Net Profit
Trading PnL
Premises, motor vehicle, office furniture, office equipment, machinery
Fixed Assets on the Balance Sheet
Stock(closing), Debtors(Less provision for bad debts), prepayment, Cash at bank, Cash in hand
Current Assets on the Balance Sheet
Creditors, Expense owing, Bank overdraft
Less current liabilities on the Balance Sheet
Net current Assets
Balance Sheet
Capital and add profit
Financed by Balance Sheet
Less returns inwards
Sales - Trading PnL
Opening stock, add purchase, add carriage inwards
Less cost of goods sold - Trading PnL
Less Returns Outwards
Trading PnL
Less Closing stock and Gross Profit
Trading PnL
