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Figure 7-6.—Preparation of the Ship’s Store Balance Sheet and Profit and Loss Statement—separate and combined responsibility  (back).
Ships Serviceman 1 & C (Revised) - How to fix and repair boats
Profit Computations
preparation  of  the  Receipts  side,  the  supporting documents  for  the  Expenditures  side  should  be in your ship’s store accounts files. More detailed coverage of these procedures is contained in your NAVSUP  P-487. Profit and Loss Statement (Receipts  Section) In  preparation  of  the  Profit  and  Loss  State- ment captions, lines C01 through C09 (Receipts), you  must  return  to  your  previous  NACOMPT 153 to report line C01. Refer to figure 7-5. Line C02  must  be  taken  from  the  cashbook  of  your ship’s  store.  Information  for  line  C03  can  only be taken from your soft drink vending machines (cup type and can type). Indicate the type of soft drink  machine  by  checking  the  appropriate  box in  section  C03  of  your  NAVCOMPT  153.  Line C04 is cash collected from amusement machines. The total amount of rebate checks received from the Navy Resale and Services Support Office for catalog  sales  should  be  entered  on  line  C04A. Contributions,  regardless  of  the  source,  should be  entered  on  line  C04B.  This  figure  should  in- clude  the  amounts  collected  as  service  charges  and the  profits  from  the  sales  of  traveler’s  checks. Line   C05   covers   loans   that   have   been authorized  by  NAVRESSO  to  cover  the  cost  of equipment,  such  as  vending  machines,  popcorn machines, and soft ice cream purchases. Line C05 should also include loans that have covered any improvements   to   the   ship’s   store,   the   cost   of surveys,  and  operating  losses.  An  official  letter request  stating  the  purpose  of  the  loan  must  be submitted to the Navy Resale and Services Sup- port  Office.  After  approval,  NAVRESSO  will charge the amount of the loan to the appropria- tion  Ship’s  Store  Profits,  Navy  (General  Fund). To  reimburse  the  General  Fund,  the  individual ship’s  store  must  make  payments  from  local profits. (Repayment instructions are provided by NAVRESSO.)  Normally,  a  ship  is  required  to repay  a  loan  in  three  accounting  periods.  Ships having  a  complement  of  less  than  350  can  request authority  to  repay  a  loan  in  five  installments. Loans to cover the cost of modernizations can be requested  for  a  period  of  up  to  a  maximum  of 3 years. When approved, the loan amount should be entered as a one-time entry on line C05 for the accounting  period  in  which  the  loan  is  received, Loan repayment should be reported on line C20 of  the  NAVCOMPT  153.  More  detailed  informa- tion  is  contained  in  your  NAVSUP  P-487. Line  C06  covers  any  NAVRESSO  nonreim- bursable  grants  that  are  authorized  by  NAV- RESSO  to  cover  the  cost  of  equipment,  such  as vending  machines  and  soft  ice  cream  machines,  or operating   losses.   You   should   report   all   NAV- RESSO   nonreimbursable   grants   on   line   C06, NAVRESSO Grants, at the end of the accounting period  in  which  you  received  authority  for  the grant.  Just  as  you  did  for  loans,  reference  the NAVRESSO  letter  containing  the  authority  for the grant. The letter from NAVRESSO authoriz- ing  the  grant  should  be  referenced  in  the authorization   block   of   the   NAVCOMPT   153. Line  C07  covers  any  surveys  to  the  General Fund.  Report  only  the  amounts  that  were  ap- proved by NAVRESSO as a charge to Ship’s Store Profits,  Navy  (General  Fund).  Use  the  amounts you entered in lines B23 and B27 as your entry for  line  C07. Line  C08  should  be  reserved  for  the  ap- propriate FAADC. The FAADC will use line C08 to  report  any  adjustments. Use line C09 to report your total receipts. The value on line C09 should represent the sum of lines C01  through  C07. Profit  and  Loss  Statement (Expenditures  Section) Line  C10  is  reserved  for  the  Cost  of  Sales— Retail figure you have already entered on line B21. On  line  C11,  enter  the  total  amount  of  any  un- collectible  checks.  For  line  C12,  Operating Expenses, report the total of lines B22, B23, and B24. On line C13, report the amount that represents the  total  of  Laundry  Claims  and  Other  Service Charges   paid   on   Reimbursement   Vouchers (Standard Form 1129) in settling claims for loss of  or  damage  to  personal  apparel  in  the  ship’s store  service  activities.  This  figure  should  also include the total value of your payment notifica- tion  reports  (PNRs)  covering  laundry  and  dry- cleaning service charges and the total value of your payment   notification   reports   (PNRs)   covering repairs  to  vending  machines,  soft  ice  cream machines,   popcorn   machines,   and   ship’s   store stock . Use line C14 for reporting the rate of assess- ment of sales that will accrue to the General Fund. On  line  C15,  enter  the  Cost  of  Sales—Vending that  you  reported  on  line  B25.  Use  line  C16  for the  Cost  of  Operation—Vending  figure.  This amount should be the sum of lines B26 and B27, and  if  applicable,  the  added  entry  on  B27A. 7-17

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