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Profit and Loss Statement

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Profit and Loss Statement

- Balance sheet shows health of the organization. Income statement also called as profitand loss statement (P&L), gives company's financial statement for particular period.
- This shows if the organization has made profit or loss during particular period.
- This slide demonstrates in a simpler manner how profit can be calculated

Case

MrPatil started poultry as a side business with 102 birds. He started business with his own saving of Rs.5000/-.

Out of 102 birds, in one month, 7 birds died

- First batch of birds, following were his expenses as shown in table below
Total 2040 rupees

- Total Weight of birds were averaging 1.8 kgs
- Due to mortality factor, MrPatil has 95 birds
- Purchasing rate in market is 15 rupees per kg
- Thus Sales in rupees can be calculated as

Total Profit is

- Income obtained from Sales and deducting expenses incurred
- From our earlier slide , Expenses is given below
- From Previous Slide , Sales income is given below