Income Statement and Balance Sheet

Cost of Sales

• Current asset

• Non-current liability

• Expense

• Income

Sales revenue

• Expense

• Income

• Equity

• Non-current asset

Motor Vehicles

• Non-current liability

• Non-current asset

• Current asset

• Equity

Inventory

• Current liability

• Equity

• Income

• Current asset

Cash at bank (Overdraft)

• Current liability

• Expense

• Current asset

• Income

Cash in hand

• Current liability

• Current asset

• Income

• Equity

Trade payable

• Non-current liability

• Equity

• Current liability

• Current asset

Trade receivables

• Expense

• Non-current asset

• Income

• Current asset

Discount allowed

• Income

• Expense

• Equity

• Current asset

Bank loan

• Non-current liability

• Current asset

• Expense

• Current liability