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ACCRUAL vs CASH
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ACCRUAL vs CASH
These Profit and Loss Statements demonstrate how different the financial information is generated.
ABC COMPANY
PROFIT & LOSS STATEMENT
January 1, 1998 to December 31,1998
Accrual Method
INCOME:
Ad Designs
23,895.00
14,017.00
Market Research
82,016.07
55,336.52
Online Marketing Income
6,859.00
5,000.00
Packaging Design
35,662.89
22,551.34
Web Site Designs
50,535.18
43,035.18
Total Income
198,968.14
139,940.04
EXPENSES:
Advertising
2,066.78
1,434.78
Automobile Expense
3,243.54
2,830.14
Bank Service Charges
266.31
266.31
Equipment Rental
12,038.44
12,511.98
Independent Contractors
7,679.05
6,557.03
Interest Expense
5,094.07
4,495.09
Internet Expenses
6,306.07
1,426.22
Office Expenses
11,226.09
11,010.14
Office Supplies
3,225.46
1,623.35
Payroll Expenses
63,775.62
63,775.62
Postage and Delivery
4,688.43
4,258.18
Printing and Reproduction
3,792.32
3,792.32
Professional Fees
3,541.89
2,026.00
Rent
18,100.00
14,100.00
Software Programs
744.00
0.00
Storage
139.00
139.00
Subscriptions
63.95
14.95
Telephone
13,798.56
10,929.12
Travel & Ent
1,131.02
667.72
Utilities
3,502.89
1,000.00
Total Expenses
164,423.49
142,857.95
NET INCOME:
34,544.65
(2,917.91)
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