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Profit and Loss Account: Prajapati Enterprises LTD

Prajapati Enterprises Ltd. saw a decrease in total revenues from ₹250,000 in 2017 to ₹200,500 in 2018 due to lower sales and service revenues. Total expenses also decreased from ₹162,950 in 2017 to ₹122,500 in 2018 mainly due to lower costs of goods sold and salaries and wages. However, net income decreased slightly from ₹78,345 in 2017 to ₹70,200 in 2018.

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Mukesh Prajapati
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38 views1 page

Profit and Loss Account: Prajapati Enterprises LTD

Prajapati Enterprises Ltd. saw a decrease in total revenues from ₹250,000 in 2017 to ₹200,500 in 2018 due to lower sales and service revenues. Total expenses also decreased from ₹162,950 in 2017 to ₹122,500 in 2018 mainly due to lower costs of goods sold and salaries and wages. However, net income decreased slightly from ₹78,345 in 2017 to ₹70,200 in 2018.

Uploaded by

Mukesh Prajapati
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Prajapati Enterprises Ltd.

Profit and Loss Account


Years Ending: 2018

Revenue 2018 2017


Sales revenue ₹ 150,000 ₹ 175,000
(Less sales returns and allowances)
Service revenue ₹ 50,500 ₹ 75,000
Interest revenue
Other revenue
Total Revenues ₹ 200,500 ₹ 250,000

Expenses 2018 2017


Advertising ₹ 500 ₹ 450
Bad debt
Commissions
Cost of goods sold ₹ 55,000 ₹ 75,000
Depreciation
Employee benefits
Furniture and equipment
Insurance
Interest expense ₹ 2,000 ₹ 2,500
Maintenance and repairs
Office supplies
Payroll taxes
Rent
Research and development
Salaries and wages ₹ 65,000 ₹ 85,000
Software
Travel
Utilities
Web hosting and domains
Other
Total Expenses ₹ 122,500 ₹ 162,950

Net Income Before Taxes ₹ 78,000 ₹ 87,050


Income tax expense ₹ 7,800 ₹ 8,705

Net Income ₹ 70,200 ₹ 78,345

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