Income Statement Format Grade 12

Balances totals on 28 february.

Income statement format grade 12. Asked feb 27 2018 in accounting by admin master 890k points 579 views. 12 learner notes information. Income statement format 1. This video was uploaded in 2017 by dr gr schreuder grade 12.

Accounting grade 12 income statement 2017. 1 1 income statement. The video below takes 38 minutes and 24 seconds and. Sales or revenue section presents sales discounts allowances returns and other related information.

Ordinary share capital 7 retained income 7 3 2 3 equity and liabilities section of the balance sheet 16 information. The formula to calculate the growth rate is. 12 income statement examples the income statement example is an official document so it can eventually mark a significant change and probably will show the profitability over a definite phase. Company reporting 65 marks 30 minutes.

The income statement format above is a basic one what is known as a single step income statement meaning just one category of income and one category of expenses and prepared specifically for a service business. 3 2 1 income statement statement of comprehensive income 28 3 2 2 notes to the balance sheet statement of financial position for. The company sells sports equipment and repairs equipment for their customers. Accounting grade 12 senior secondary improvement programme session.

In this lesson we focus on the format of the income statement as well as look at income statement year end adjustments. A properly created income statement will indicate about the financial performance of business as well as briefly tells what may be done to improve the. Since we are doing a common size analysis we want the growth rate in sales stated as a percentage. Telematics presentation in collaboration with the university of stellenbosch.

Cost of goods sold section shows the cost of goods sold to produce the sales. Income tax provisional tax payments were made as follows. Revision video accounting grade 12 companies final accounts financial statements and notes. You are provided with information relating to samora sports limited.

31 december 2009 r172 000 30 june 2010 r148 000 sars income tax ledger account reflects a credit balance of r20 000 on. Accounting grade 12 session 1. 2 teacher notes session 1.