Income Statement And Balance Sheet Grade 12

A retained income distributable reserves b ordinary share capital.

Income statement and balance sheet grade 12. Know the steps of asset disposal 1. In this lesson we focus on the format of the income statement as well as look at income statement year end adjustments. Accounting grade 12 session 1 teacher notes page 6 of 167. If sales cos 630 000.

Example at the income statement balance sheet cash flow statement and budgets. Ordinary share capital 7 retained income 7 3 2 3 equity and liabilities section of the balance sheet 16 information. 2007 jun 10 bank 38 600 2007 mar 1 balance b d 38 600 2007 aug 31 bank 187 500 2008 feb 29 income tax 396 000 2008 feb 29 bank 220 000 balance c d 11 500 446 100 446 100. Sales 1 703 200 17 000 6 200 1 680 000 cost of sales.

Cash bank b. Net income after tax 4 4 1 2 equity and liabilities section of the balance sheet on 30 june 2010 with notes for. 1 1 calculate the following income statement figures for the financial year ended 30 june 2010. Write off the total depreciation 4.

Revision video accounting grade 12 companies final accounts financial statements and notes. I common size income statement the statement in which sales figure is assumed to be 100 and all other figures are expressed as a percentage of sales is known as common size income statement. Write off the cost price 2. If sales 1 6 1 050 000 gross profit.

Income statement for the year ended 30 june 2008. For example dividing net income by shareholders equity produces return on equity return on equity roe return on equity roe is a measure of a company s profitability that takes a company s annual return net income divided by the value of its total shareholders equity i e. Calculate additional depreciation 3. Balances totals on 28 february.

Record the saels transaction a. Roe combines the income statement and the balance. Sars income tax. Revision video accounting grade 12 companies final accounts financial statements and notes.

Trade in creditors control 5. Xtra gr 12 accounting. Balance sheet items 1 each max 2 if interest is shown at top bottom apply 1 max for placement if marks are earned. 2018 2017 ordinary share capital 8 816 000 6.

In this lesson on balance sheet cash flow statement we focus on transactions involving shares and how these effect the balance sheet and cash flow statement. Credit debtors control c. Xtra gr 12 accounting. Revision video accounting grade 12 companies final accounts financial statements and notes.