Income Statement Flashcards
1
Q
How to work out cost of sales
A
Opening inventory + purchases + P&M depreciation - closing inventory
2
Q
How to work out admin expenses
A
F&F depreciation + admin expenses + audit fees + audit fee accrual’s + other expenses (bad debt etc)
3
Q
How to work out distribution costs
A
Distribution costs + van depreciation
4
Q
How to work out finance costs
A
Debenture interest paid + debenture interest accrual)
