LSE 
CLASSIFICATION OF LEDGER ACCOUNTS FOR CREAMEREES. 30 
INCOME AND EXPENSE STATEMENT. 
The Income and Expense Statement is an itemized statement of the entries made 
to the Loss and Gain account, arranged in such a way as to set forth clearly the results 
of the operations of the periods involved. 
The following form of Income and Expense Statement will be found convenient for 
exhibiting the operations of the creamery for either a monthly or a yearly period. 
Whenever possible a monthly statement of income and expense is advised. In the 
past no standard form of Income and Expense Statement has been used; therefore, 
this form should fill a very definite need. By its use not only the stockholders and 
directors may follow the details of the business, but a ready comparison may be made 
between the costs of operation of various periods. 
The amounts shown as sales and purchases in this statement should be net figures. 
That is, merchandise returned by the buyer should be deducted from the total sales, 
and merchandise returned by the company to the concern from whom it was pur- 
chased should be deducted irom the total purchases. 
In preparing the trading section of the Income and Expense Statement, it will be 
found that a space is provided for showing the inventory at the beginning of the period 
separately from the purchases. If the entries have been made in the order provided, 
the amount of the inventory existing at the close of the previous period should be the 
first item in the various Purchase accounts. By deducting this amount from the 
balance on the Purchase accounts the purchases for the period may be found. 
THE BLANK CREAMERY COMPANY, BLANK, VERMONT. 
ERCOMe aNd HMaEpense Statement JOR 4-22 2-4 e yee ae , 19—. 
ROE ES eC Siete aia rt IE Ev ae Bene IID Psa td ne foe = reeileeencme Sout SHE eee nen dl Hl tree 
OSS OEURIEOG OAlOS =. names sane erreurs all ee cleo Ce He aia, eee Pigs OS = free 
ING RENCE OSs apa aaa Ate emte A ers Sener a ale ie aan Me puove AES eee a Bbeseon c 
Raw Material: 
ItRG beets bets (ER CITA SCS eee ae ele ese | ere wen 
Siti MEc PUrelases cassie. co-sceccice-- WPascae ese th ce eRe T ERS Pes thy Vain [lee ee 
Underpayments and Overpayments-....|/........|......-- en akg al leis eoere reall te eee 
sellcallca! 
Roncyest 
Collection Expense: 
Auto Truck O-peration..........<...-- Vere antes arta Hsia easel ena es 
ERO UE SHOP ACERE Ons ESI ULG EG ee od a ce petv erent eee lle event Mh Hie yaaa me 
Depreciation on Auto Trucks......... | 
Total Cost. of Raw Material ........ -| 
Beis 
Doe 
Power and Refrigeration................| 
Manufacturing Supplies. .-... ia PANE t cae Ses 
Repainsonublani eas j2 55 th a ace 
Depreciation on Plant..................- 
Tool Replacement .........0...2.--0. 24. 
BESESS 
Oorwroe 
Fotal Operating Expetise........... i 
Add: 
Inventory beginning of year...........-- | 
Deduct: 
Inventory end of year.............2----- 
Manufacturing Cost of Goods Sold ........ 
Grossserotitonacesecceicceceoeee or ee 
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