Calculations Flashcards
1
Q
sales revenue
A
sales
2
Q
net sales revenue
A
sales - returns
3
Q
net cost of purchases
A
purchases - returns + freight inwards
4
Q
cost of goods sold
A
opening inv. + net cost of purchases - closing inv.
5
Q
other income
A
other forms of income
6
Q
gross profit
A
net sales revenue - cost of goods sold
7
Q
selling expenses
A
marketing
salaries
freight outwards
8
Q
administrative expenses
A
rent
utilities
insurance
9
Q
financial expenses
A
interest
bad debts
10
Q
total expenses
A
selling + admin. + financial
11
Q
net profit (net loss)
A
gross profit + other income - total expenses
12
Q
GST payable
A
GST collections - GST outlays
13
Q
current assets
A
cash at bank
accounts receivable
prepaid rent
closing inv.
14
Q
intangible assets
A
trademarks
15
Q
non-current assets
A
non-current assets + intangibles - depreciation
