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Bernie's Ltd . Income Statement For the Year ended December 3 1 , 2 0 X 5 Income: Sales 6 8 2 , 0 0
Bernie's Ltd
Income Statement
For the Year ended December X
Income:
Sales
Dividends
Interest
Gain on sale of PPE Property Plant & Equipment
Total income
Expenses:
Cost of goods sold
Depreciation
Wages
Interest
Other expenses
Total expenses
Net income before income tax expense
Income tax expense
Net income after income tax expense
Additional information:
PPE purchases during X were $
Issuance of mortgage payable during X $
All prepaid expenses at the beginning of the year expired during X
$ was accrued for operating expenses at year end.
Bernie's Ltd
Balance sheet
As at December XX
Assets
Cash
Accounts receivable
Inventory
Interest receivable
Prepaids
Long term receivable from Dennis's Ltd
Property, Plant and EquipmentPPE net
Total
Liabilities
Accounts payable
Accrued liabilities
Wages payable
Mortgage payable
Shareholder's Equity
Common shares
Retained earnings
Total
Please round up to decimal places.
Please note that percentages may be represented in decimal format. For example, is the same as If you calculate it is correct to round to If you calculate then it is correct to round to
Bernie's Ltd Accounts Receivable turnover at December X is:
Multiple Choice
Between
Between
Between
Not enough data provided to calculate it
Between
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