Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A companys accounts balance as at 30 June 2014 is shown in Table Q2 and the companys total revenue is RM 1,000,000: Table Q2 Description

A companys accounts balance as at 30 June 2014 is shown in Table Q2 and the companys total revenue is RM 1,000,000: Table Q2 Description RM Cost of Goods Sold 426,200 Accounting and legal fees 11,700 Advertising 15,000 Depreciation 38,000 Electricity 2,700 Insurance 15,200 Interest and bank charges 27,300 Postage 1,500 Printing and stationery 8,700 Professional memberships 1,800 Rent for premises 74,300 Repairs and maintenance 21,100 Training 6,900 Vehicle operating costs 20,000 Wages and salaries 223,500 Workers compensation 6,500 All other expenses 14,100 Prepare the income statement for the year ended 30 June 2014.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting For Financial Decisions

Authors: Keith Ward ,Sri Srikanthan ,Richard Neal

1st Edition

0750600675, 978-0750600675

More Books

Students also viewed these Accounting questions