ACC106- Format OF Final Accounts-amended PDF

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for final exam acc406 format that need to be use...

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FORMAT OF FINAL ACCOUNTS (VERTICAL FORMAT) Name of Business Statement of Profit or Loss for the year ended …………………………………………( eg 31 December 2019) RM RM RM Sales XX Less: Sales returns/Return inwards (XX) Sales discount/Discount allowed (XX) Net Sales XXX Less: Cost of Goods Sold Opening inventory Purchases Less: Purchase returns/ Return outwards Purchase discounts/Discount received Net Purchases Add: Expenses on purchases Carriage inwards Duty on purchases Insurance on purchase Cost of goods purchased Cost of goods available for sale Less: Closing inventory Cost of goods sold Gross Profit or (Loss)

XX XX (XX) (XX) XXX XX XX XX XX XX (XX) (XXX) XXX

Add: Revenues Discount received Rent received Commission received Interest received

XX XX XX XX XXX

Less: Expenses Salary and wages Insurance Rent expenses Discount allowed Interest expenses Carriage outwards

XX XX XX XX XX XX (XXX) XXX

Net Profit or (Loss)

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Name of Business Statement of Financial Position as at ……………………………………….. (eg 31 December 2019) RM RM RM Non-Current Assets Cost Accumulated Carrying depreciation value Land and Building XX (XX) XX Motor Vehicles XX (XX) XX Office Equipment XX (XX) XX Machinery XX (XX) XX Fixtures and Fittings XX (XX) XX XXX Intangible Assets Goodwill XX Patent XX Trademark XX Franchise XX Investment / Fixed deposit

XX XXX

Current Assets Closing inventory Accounts Receivable / Debtors Cash at Bank / Bank A/C Cash in Hand / Cash A/C Prepaid expenses Accrued revenues

XX XX XX XX XX XX XXX XXXX (*)

Owner’s Equity Capital beginning/Capital as at………….. (eg 1 January 2019) Add: Net Profit (Loss) Less: Drawings Capital ending/Capital as at ………… (eg 31 December 2019) Non Current Liabilities Long Term Loan Mortgage on Premises

XX XX (XX) XX

XX XX XX

Current Liabilities Bank overdraf Accounts Payable / Creditors Accrued expenses Prepaid revenues

XX XX XX XX XX XXXX (*) 2

Note: (*) Must be the same

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