Question

How do you write an expenditure statement?

Answer 1

To compose an income statement and report the benefits your private company is producing, follow these bookkeeping steps:

• Pick a reporting period.

• Create a trial balance report.

• Work out your revenue.

• Decide cost of goods sold.

• Work out the gross margin.

• Incorporate operating expenses.

• Work out your income.

• Incorporate annual expenses and taxes.

• Work out overall gain or loss.

• Conclude income statement or explanation.

Also see:

• Income and Expenditure Account
• Difference Between Capital Expenditure and Revenue Expenditure
• Classification of Expenditure

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