Financial Statements

TRADE RECEIVABLE

• Current liability

• Equity

• Current asset

• Non current asset

CAPITAL

• Current liability

• Equity

• Cost of sales

• Current asset

BANK LOAN

• Current liability

• Expenses

• Non current asset

• Non Current Liability

Bank Overdraft

• Current liability

• Equity

• Current asset

• Cost of sales

Salaries and Wages

• Other income

• Expenses

• cost of sales

• current asset

Discount Received

• current liability

• expenses

• other income

• non current asset

Cash in hand or Bank

• Current asset

• current liability

• non current asset

• non current liability

Closing inventory in SOFP

• current liability

• current asset

• cost of sales

• non current asset

Closing Inventory In income statement

• other income

• expenses

• cost of sales

• below sales

Return outward / Purchases return

• other income

• expenses

• below Sales

• cost of sales