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Question

How do you write an expenditure statement?


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Solution

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.

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