Accountancy/Income statement

EXAMPLE: Mr.X Income Statement For the year ended 30 june,2010 ________________________________________ sales -------------------2000 less saless return--------100 Net sales revanue -----------------------1900 less of goods sold purchase----------------1700 less purchase return----200 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: cash----------------------------RM 2050 Non-current Assets: furniture----------------------------300 Office Equipment --------------------900 Total Assets----------------------------3250 LIABILITIES Creditor---------------------------------550 OWNER EQUITY Capital--------3250 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.