Looking Good Prepare An Income Statement For The Month Of June

Income statement is one in a set of five financial statements. Our first step is to determine the value of goods and services that. Lets prepare the income statement so we can inform how Cheesy Chucks performed for the month of June remember an income statement is for a period of time.

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Paid 133 for utilities.

Prepare an income statement for the month of june. The only other balance sheet accounts are. 1Prepare an income statement for the month ended June 30 2012. Statement of comprehensive income.

Variable cost of goods manufactured 500000 units x 14 per unit 7000000 Less ending inventory 80000 units x 14 per. Open Show Work SHOW LIST OF ACCOUNTS SHOW ANSWER Pharoah Company Income Statement For the Month Ended June 30 2017 Revenues Service Reven 7910 Expenses Supplies Expe 1030 Advertising Ex 400 Maintenance a 630 Utilities Expens 270 Salaries and W 1810 Total Expenses 4140 Net Income. Therefore a business should distribute a set of five financial statements consisting of the following.

Your net income is what you take for yourself after paying all the expenses of the business. Subtract the cost of goods sold from gross sales to get gross profit Line 3. During the month Maniquiz invested an additional P16000 the business and withdrew P250000.

Paid 2 161 for employee salaries. To begin select the appropriate accounts using a popup link. Prepare a statement of changes in equity for the.

Made a cash payment of 700 on the note payable. To find your net income youll subtract the interest expense minus the provision income tax from your operating income 31000 4000 81000 18900. Marginal Costing Variable Costing Income Statement.

Prepared the following income statement based on the variable existing concept. Sales 420000 units 7450000 Variable cost of goods sold. Paid for the gasoline purchased on account on June 17.

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