The Trading and Profit & Loss Account - Pepe's Pizza Parlour

Pepe's Pizza Parlour

The Trading and Profit & Loss Account

This is the basic outline of a Trading and profit and Loss Account:

£ £ £
SALES
minus Returns Inward
MINUS COST OF SALES
opening Stock
plus Purchases
minus Returns Outward
plus Carriage Inwards
minus Closing Stock
GROSS PROFIT
LESS EXPENSES
wages
light and heat
printing and stationary
telephone
carriage outwards
advertising
overheads
discount allowed
motoring expenses
interest payable
PLUS OTHER INCOME
commission received
discount received
NET PROFIT

*** Print this off now and keep as a revision reminder. ***

So let's try completing PEPE'S TRADING & PROFIT and LOSS ACCOUNT