The profit and loss account - numerical questions
Solway Gliders plc has just set up a new office in Brussels. It purchased a new computer system and software. However, the computer system crashed following a power surge and some of the data was lost. The latest version of their profit and loss account is shown below, but it has some gaps. Your task is to calculate the figures that should be in these gaps and then to complete the account.
|Profit and loss account - Solway Gliders plc year ended 31st May .... ($'000's)|
|800||Cost of goods sold||......|
|400||Net profit before interest and tax||.....|
|.....||Net profit after interest and tax||......|
(to balance sheet)
When you have completed this task, identify the changes between the two years and provide an explanation for them.
From the following balances from the books of Fox Ltd, draw up a trading and profit and loss account for the year ended 30 June 2011.
|Cost of goods sold||32,532|