HMASAC2200 - Accounts: The Trading Account
The trading account deals specifically with the sales and the
direct costs involved (i.e. cost of goods sold).
The following table shows an example of the trading
account:
| An Excise
Trader Limited
Trading, Profit and Loss Account for the year ending 31 December xxxx. |
|||
| Turnover | 1,956,546 | LINE 1 | |
| Cost of Goods Sold | |||
| Opening Stock | 31,965 | LINE 2 | |
| Purchases | 862,594 | LINE 3 | |
| Duty / warehousing / haulage | 100,000 | LINE 7 | |
| 994,559 | |||
| Closing Stock | (105,709) | LINE 4 | |
| 888,850 | LINE 5 | ||
| Gross Profit | 1,067,696 | LINE 6 | |
How can I use the information provided in the Trading Account?
(This text has been withheld because of exemptions in the Freedom of Information Act 2000)(This text has been withheld because of exemptions in the Freedom of Information Act 2000)
(This text has been withheld because of exemptions in the Freedom of Information Act 2000)
