Accounting – 5.5 Manufacturing accounts | e-Consult
5.5 Manufacturing accounts (1 questions)
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Trading and Profit & Loss Account for the year ended 31 December 2023
| Item | £ |
| Sales Revenue | 120,000 |
| Cost of Goods Sold | 60,000 |
| Gross Profit | 60,000 |
| Other Expenses | 12,000 |
| Net Profit | 48,000 |
Note: Gross Profit = Sales Revenue - Cost of Goods Sold