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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Name of the Company
| Income Statement for the (year, quarter or month) end __________ | ||
| Details | Amount | |
|---|---|---|
| Revenue | ||
| Sale of Product | 500,000 | |
| Interest received on Bank balance | 40,000 | |
| 540,000 | ||
| Expenses | ||
| Material consumed in the manufacturing process | 250,000 | |
| Wages | 30,000 | |
| Salary | 50,000 | |
| Rent | 10,000 | |
| Selling and Distribution | 15,000 | |
| loss on the sale of an assets | 1,000 | |
| 356,000 | ||
| Net Income = Revenue- Expenses | 184,000 | |
Reliance Industries Limited
| Income Statement | ||
| All numbers in thousands | ||
| Revenue | 3/31/2018 | 3/31/2017 |
|---|---|---|
| Total Revenue | 4,08,26,50,000 | 3,29,94,00,000 |
| Cost of Revenue | 2,86,20,90,000 | 2,38,81,80,000 |
| Gross Profit | 1,22,05,60,000 | 91,12,20,000 |
| Operating Expenses | ||
| Research Development | - | - |
| Selling General and Administrative | 9,66,10,000 | 8,43,50,000 |
| Non Recurring | - | - |
| Others | 48,05,30,000 | 36,04,00,000 |
| Total Operating Expenses | 3,60,62,90,000 | 2,94,93,90,000 |
| Operating Income or Loss | 47,63,60,000 | 35,00,10,000 |
| Income from Continuing Operations | ||
| Total Other Income/Expenses Net | 1,79,00,000 | 5,03,30,000 |
| Earnings Before Interest and Taxes | 47,63,60,000 | 35,00,10,000 |
| Interest Expense | -7,24,60,000 | -3,15,70,000 |
| Income Before Tax | 49,42,60,000 | 40,03,40,000 |
| Income Tax Expense | 13,34,60,000 | 10,20,10,000 |
| Minority Interest | 3,53,90,000 | 2,91,70,000 |
| Net Income From Continuing Ops | 36,08,00,000 | 29,83,30,000 |
| Non-recurring Events | ||
| Discontinued Operations | - | - |
| Extraordinary Items | - | - |
| Effect Of Accounting Changes | - | - |
Other Items |
- | - |
| Net Income | 36,07,50,000 | 29,90,10,000 |
| Preferred Stock And Other Adjustments | - | - |
| Net Income Applicable To Common Shares | 36,07,50,000 | 29,90,10,000 |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
The income statement shows all expenses incurred and revenue earned during a particular period. It is prepared to find out the Net earnings of the business for…
Class 11 and Class 12 commerce students, and CA Foundation aspirants, studying Financial Accounting.
Yes — this page includes a short interactive quiz so you can check your understanding straight away.
