Accountancy/Income statement

EXAMPLE: Mr.X   Income Statement For the year ended 30 june,2010 ________________________________________ sales ---2000 less saless return100 Net sales revanue ---1900 less of goods sold purchase1700 less purchase return200         1500 Gross Profit---400 less operating expenses salary---300 Rent-150 Advertising--200                     650 Net Loss--250

Mr.X   Balance Sheet As at 30 june,2010 _________________________________________

current Assets: cashRM 2050 Non-current Assets: furniture300 Office Equipment 900 Total Assets3250

LIABILITIES Creditor-550 OWNER EQUITY Capital3250 less:Net loss---250 less: Drawings--300                    2700 Total Liabilities and Owner's Equity-3250 Remember..when you are calculating always think as an accountant.