Format of A Trading and Income Statement where an entity purchases all its goods for resale from outsides

January 22nd, 2010 Comments off
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Earlier article showed the format of a manufacturing account. Another article showed the format of the trading and income statement which accomodates the cost of goods manufactured by the same entity.

Unlike the above, below is a snapshot  of an entity’s trading and income statement where an entity is buying all its goods for resale for outsides:

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Financial Accounting


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