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Less Cost of Goods Sold
Raw Food and Merchandise Invent. (Beg.)
Add: Purchases Transportation
Wages
LPG
Total
Less: Raw Food & Mdse. Invent. (End)
Cost of Goods Sold
Gross Profit
Less: Operating Expenses
Electricity/Water
Permit/License
Salary Rental Depreciation
Total Operating Expenses
Net Income for the Period
Less Cost of Goods Sold
Raw Food and Merchandise Invent. (Beg.)
Add: Purchases Transportation
Wages
LPG
Total
Less: Raw Food & Mdse. Invent. (End)
Cost of Goods Sold
Gross Profit
Less: Operating Expenses
Electricity/Water
Permit/License
Salary Rental Depreciation
Total Operating Expenses
Net Income for the Period
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Answer:
Prepare a cash flow statement and income statement of school canteen business for the period August 1 -31, 2008. Refer to the business transactions given below.