Upload
others
View
5
Download
0
Embed Size (px)
Citation preview
1
Introduction to Accounting II
Section (1)
CHAPTER 5 Assistant lecture Mona shemes
2
Types of Company
Service Company الشركات الخدمية
Merchandising Company
الشركات السلعية
Provide services توفير الخدمات
Buy and sell goods to consumer تبيع السلع والخدمات للمستهلكين
period
Expense Sales Revenue
Cost of Good Sold Operating Expense مصاريف التشغيل التكلفة المرتبطة مباشرة بتحقيق الايرادات من المبيعات
Sales Revenue - Cost of Good Sold = Gross Profit
Gross Profit - Operating Expense = Net Income/ Loss
3
Ex (1)
If sales revenue 480000, and sales return 12000 and customer
receive sales discount 8000 calculate Net Sales ?
Sol
Sales Revenue :
Sales 480000
Less: Sales return (12000)
Sales discount (8000)
Net sales 460000
Ex (2)
If net sales 460000 and cost of good sold 316000 calculate
Gross profit?
Sol
Net sales 460000
Less : Cost of Good Sold (316000)
Gross profit 144000
4
Ex (3)
If Gross profit 144000 and Net Income 30000 calculate
operating expense?
Sol
Gross profit 144000
Less: operating expense ??????
Net income 30000
Operating expense = Gross profit - Net income
= 144000- 30000
= 114000
5
Ex (4)
If sales revenue 3800, and sales return 300 , Cost of Good Sold
100, operating expense 200 calculate Net income?
Sol
Sales Revenue :
Sales 3800
Less: Sales return ( 300)
Net sales 3500
Less : Cost of Good Sold (100)
Gross profit 3400
Less: operating expense (200)
Net income 3200
6
Ex (5)
If sales revenue 11400, and supplies expense 1400 ,
depreciation expense 250, insurance expense, 250, salaries
expense 6000, rent expense 1000, utilities expense 150 ,
prepare income statement for the month ended june, 30, 2017
Sol
Revenue:
Sales revenue 11400
Less: expense
Supplies expense 1400
Depreciation expense 250
Insurance expense 250
Salaries expense 6000
Rent expense 1000
Utilities expense 150
(9050)
Net income 3130
7