Question
I need help with Day 6 Faith's Income Statement Student Worksheet. I need to fill out the blanks please Faith's new company had the following
I need help with Day 6 Faith's Income Statement Student Worksheet. I need to fill out the blanks please
Faith's new company had the following information to complete the Income Statement for October: Advertising$1,000.00 Quanity Sold 1,000Insurance Expense$400.00Supplies Expense$300.00Miscellanous Expense$1,200.00Utilities Expense$700.00Rent Expense$2,500.00Cost Per Calander Sold
$3.00Faith's Calendar Supply CompanyIncome StatementFor the Month Ended October 31, 20Revenue:Quanity Sold$10.00Price$10.00Sales$10,000Less Cost of Merchandise Sold$3,000Note: Cost Per Calendar Sold x Quantity SoldGross Profit on Sales$7,000Expenses:Advertising expense$1,000Insurance expense$4,000Miscellaneous expense$1,200Rent expense$2,500Supplies expense$300Utillies expense$700Total Expense$6,100Net Income
$900The following month Faith had the following information to complete the Income Statement for November:Advertising$2,000.00Quanity Sold2,000Insurance Expense$800.00Supplies Expense$600.00Miscellanous Expense$2,400.00Utilities Expense$1,400.00Rent Expense$5,000.00Cost Per Calander Sold
$3.00Faith's Calendar Supply CompanyIncome StatementFor the Month Ended November 31, 20Revenue:Quanity Sold2000Price$10.00Sales20,000Less Cost of Merchandise Sold
$6,000Note: Cost Per Calendar Sold x Quantity SoldGross Profit on Sales
$14,000Expenses:Total ExpenseNet Income
A year later Faith had the following information to complete the Income Statement for October:Advertising$2,500.00Quanity Sold1,000Insurance Expense$1,000.00Supplies Expense$750.00Miscellanous Expense$3,000.00Utilities Expense$1,750.00Rent Expense$6,250.00Cost Per Calander Sold
$7.50Faith had to raise the price on the calendar since expenses for the company had risen.Faith's Calendar Supply CompanyIncome StatementFor the Month Ended November 31, 20Revenue:Quanity SoldPrice$25.00SalesLess Cost of Merchandise Sold
Note: Cost Per Calendar Sold x Quantity SoldGross Profit on Sales
Expenses:Total ExpenseNet Income
If Faith had only raised her price to $15, what would have been her Net Income or Net Loss.Show your work:Cost Per Calender Sold
$7.50Revenue:Quanity Sold1000PriceSalesCost of Merchandise Sold
Note: Cost Per Calendar Sold x Quantity SoldGross Profit on Sales
Expenses:Advertising$2,500.00Insurance Expense
$1,000.00Miscellanous Expense
$3,000.00Rent Expense$6,250.00Supplies Expense
$750.00Utilities Expense$1,750.00Total ExpenseNet Profit or Net Loss
NOTE: () = Loss
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