Manufacturing Account Format

Detail $ $ $
Raw Materials
Opening Stock xxx
ADD: Purchase of Raw Materials xx
Carriage Inwards xx
xxx
Cost of Raw Materials Available for use xxx
LESS: Closing Stock of Raw Materials (xxx)
Cost of Raw Materials Consumed xxx

ADD:
Direct Labour xx
Direct Expenses xx
xxx

Prime Cost xxx

ADD:
Factory Overheads/Indirect Costs xxx
Factory Electricity xxx
Telephone xxx
Supervisor Salaries xxx
Indirect Labour xxx
Depreciation of Factory Equipment xxx
Repairs and Maintenance xxx

Total Factory Overhead/Indirect Cost xxx

Total Manufacturing Cost xxx
ADD: Opening work in progress xxx
xxx

LESS: Closing work in progress (xxx)

PRODUCTION COST OF CAPITAL GOODS: xxx
 Company X

Income Statement

For the year ended…

Details $ $ $
Sales xxx
LESS: Sale Returns (xxx)
Net Sales xxx

LESS: Cost of Goods Sold

Opening Stock xxx
ADD: Cost of Completed Goods xxx
xxx
LESS: Closing Stock of finished goods (xxx)
Cost of Goods Sold (xxx)
Gross Profit xxx
ADD: Comissions xxx
xxx
LESS: Expenses (xxx)

Net Profits xxx

 Company X

Statement of Financial Position

As at….

Details $ $ $
Cost Total Depreciation NBV
Fixed Assets:
Buildings
Motor Vehicles xxx

Current Assets:
Inventory xxx
Raw Materials xxx
Finished Goods xxx
Work in Progress xxx
Debtors xxx
Bank xxx
Cash xxx
Total Current Assets xxx

LESS: Current Assets

Accounts Payable (xxx)
Working Capital xxx
NET ASSETS xxx

Financed By:
Capital xxx
Balance as at 1/1/2017 xxx
ADD: Net Profits xxx

LESS: Drawings (xxx)

xxx
 Partnership format
Partnership Name

P/L Appropriation A/C

For the year ended…

Details $ $ $

Net Profits 50,000

ADD: Interest on Drawing
Taylor 500
Clarks 1000
1500
51,500
LESS: Appropriation
Interest On Capital (@ 5%) 1000
Taylor 3000
Clark 4000

Salary: -
Taylor 15,000
Clark (19,000)
32,500

Share of Profit
Taylor (3/5) 19,500
Clark (2/5) 13,000
32,500

Current Account/Capital Account

Date Details Total Clarks Date Details Taylor Clark

Year Year
Date Drawings Date Bal b/d
Interest on Drawing Date Interest on Capital
Bal C/D Partner’s Salary
xxx xxx Interest on loan
Share Profits
xxx xxx
 Cooperatives Format
Corporate Name

Income and Expenditure A/C

For the year ended….

x $ $ $

Income:
Memberships Dues xxx
Interest and Dividends xxx
Interest on Investments xxx
Other xxx
xxx
Expenditure:
Bank charges and Interest xxx
Interest in member’s deposits xxx
Subscriptions and dues xxx
Auditor’s Renumeration xxx
Provisions for depreciation xxx
All expense xxx
Total Expenses xxx
Surplus for the year xxx

ADD: Undistributed surplus a/c xxx

xxx

LESS: Appropriation
Transfer to Reserve
Statutory Reserve Special Reserve xxx
Special Reserve xxx
Honoraria xxx
Proposed Dividends xxx (xxx)
Undistributed Surplus C/F xxx