Question
The following is a list of financial information of Global AITI LTD, a new online business in Singapore as 30 November 2022: - Services revenue:
The following is a list of financial information of Global AITI LTD, a new online business in Singapore as 30 November 2022: -
Services revenue: $21,000
Total assets: $7,500
Other revenues: $6,000
Accumulated depreciation: $1,000
Depreciation expense: $700
Wages: $6,000
Income tax: $500
Online advertisement expense: $900
Capital withdrawal by owner: $3,000
Required:
a) Mention what elements from the list above that are not relevant in preparing a revenue statement.
b) Calculate the total revenue.
c) Total expenses.
d) Profit after tax.
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There are 3 Steps involved in it
Step: 1
a The elements from the list above that are not relevant in preparing a revenue statement are Total ...Get Instant Access to Expert-Tailored Solutions
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Accounting Information Systems
Authors: Ulric J. Gelinas, Richard B. Dull
10th edition
9781305176218, 113393594X, 1305176219, 978-1133935940
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