Income Statement Example Junior Cert

Income certificate is issued by the appropriate authority like tehsildar naib tehsildar block development officer or the district magistrate of a region for full one financial year.

Income statement example junior cert. For example an annual income statement issued by paul s guitar shop inc. All information provided for the certificate must be true. As compared to a single step income statement a multi step income statement examples are more complex. For the year ended december 31 2015.

The multi step income statement format comprises a gross profit section where the cost of sales is deducted from sales followed by income and expenses to reach an income before tax. The document needs to renew at annual basis. All income statements have a heading that display s the company name title of the statement and the time period of the report. Example 2 multi step income statement.

Examples of service businesses are medical accounting or legal practices or a business that provides services such as plumbing cleaning consulting design etc. Using the bank statement provided identify one example of the following items. Would have the following heading. Paul s guitar shop inc.

The income statement format above is a basic one what is known as a single step income statement meaning just one category of income and one category of expenses and prepared specifically for a service business.