POA Formats
POA Formats
POA Formats
1. Trial Balance
2. Income Statement
3. Balance Sheet
4. Partnership Appropriation Account
5. Partnership Current Account
6. Cost of Goods Manufactured Account
7. Company Appropriation Account
8. Company Balance Sheet Extract (Capital Section)
1. TRIAL BALANCE
Description Dr Cr
All Assets - Property Plant and Equipment, Motor Vehicle, Fixtures and XXX
Fittings, Inventory/Stock, Accounts Receivable, Cash, Bank,
Prepayments etc.
Depreciation Expense
Purchases XXX
Drawings XXX
Capital XXX
Sales XXX
Accruals XXX
XXX XXX
2. Income Statement
$ $
1.Sales
Less: Sales Returns or Return Inwards
=Net Sales
3. Gross Profit
This is Sales – COGS. Other revenues such as
commission received, rent received, interest revenue
discounts received etc. are then added to this gross
profit.
4.Expenses
All expenses are listed out here. The additional info
section will state if any adjustments are to be made.
These include:
Carriage/freight/Transport Outwards
Bad Debts Expenses
Depreciation Expenses
Discounts Allowed
Net Income
3. Balance Sheet
$ $
Net Income before Appropriation
Add: Interest on Drawings
Partner One (% x Drawings)
Partner Two (% x Drawings)
Partner Three (% x Drawings)
Less Appropriations:
Interest on Capital
Partner One (% x Capital)
Partner Two (% x Capital)
Partner Three (% x Capital)
Salaries
Partner One
Partner Two
Partner Three
DR CR
Drawings xx xx Salaries xx xx
Share of Profit xx xx
6. Cost of Goods Manufactured Schedule
Manufacturing Overhead
Name of Company
Appropriation Account
For The Year Ended xx/xx/xxxx
Reserves
Special Reserves
General Reserves
Retained Earnings accrued forward