The following is the trial balance of MIRROR Ltd. as of 31 December ($000): Long-term loan 5,900 Software 2,500 Revenues 8,000 Account receivables 350 Cash 1,600 Cash equivalent 200 Wages expenses 240 Account payables 2,270 Property, plant and equipment (PPE) 6,150 Office expenses 40 Interest income 650 Utility expenses 340 Know-how 1,200 Retained earnings as of January 1 1,700 1,000 Inventory as of January 1 Inventory as of December 31 4,400 Purchase 9,550 You are required to prepare an income statement and a statement of financial position! Purchase 9,550 You are required to prepare an income statement and a statement of financial position! 7 A- . I U . lil III M Income Statement Balance Sheet Non-Current Assets Equity Intangibles Share Capital Property, plant and equipment Retained Earnings Current Assets Liabilities Inventory Long-term liabilities Account Receivables Short-term liabilities Cash and cash equivalents Total Equity & Liabilities Total Assets L.CV office exp:40 utility exp:340 wages exp:240 net profit:revenue-exp=8000--12330=20330 Balance Sheet Non-Current Assets 9850 Equity 9700 Intangibles 3700 Share Capital 8000 Property, plant and equipment 6150 Retained Earnings 1700 Current Assets 7550 Liabilities 8170 Inventory 5400 Long-term liabilities 5900 Account Receivables 350 Short-term liabilities 2270 Cash and cash equivalents 1800 Total Equity & Liabilities 17870 Total Assets 17400 VICE CAPICU Interest income 650 Utility expenses 340 Know-how 1,200 Retained earnings as of January 1 1,700 Inventory as of January 1 1,000 Inventory as of December 31 4,400 Purchase 9,550 You are required to prepare an income statement and a statement of financial position! 7 A- B I U ub = E III Income Statement revenue:8000 cogs:(12950) gross profit:20950 office exp:40 utility exp:340 wages exp:240 net profit:revenue-exp=8000--12330=20330 The following is the trial balance of MIRROR Ltd. as of 31 December ($000): Long-term loan 5,900 Software 2,500 Revenues 8,000 Account receivables 350 Cash 1,600 Cash equivalent 200 Wages expenses 240 Account payables 2,270 Property, plant and equipment (PPE) 6,150 Office expenses 40 Interest income 650 Utility expenses 340 Know-how 1,200 Retained earnings as of January 1 1,700 1,000 Inventory as of January 1 Inventory as of December 31 4,400 Purchase 9,550 You are required to prepare an income statement and a statement of financial position! Purchase 9,550 You are required to prepare an income statement and a statement of financial position! 7 A- . I U . lil III M Income Statement Balance Sheet Non-Current Assets Equity Intangibles Share Capital Property, plant and equipment Retained Earnings Current Assets Liabilities Inventory Long-term liabilities Account Receivables Short-term liabilities Cash and cash equivalents Total Equity & Liabilities Total Assets L.CV office exp:40 utility exp:340 wages exp:240 net profit:revenue-exp=8000--12330=20330 Balance Sheet Non-Current Assets 9850 Equity 9700 Intangibles 3700 Share Capital 8000 Property, plant and equipment 6150 Retained Earnings 1700 Current Assets 7550 Liabilities 8170 Inventory 5400 Long-term liabilities 5900 Account Receivables 350 Short-term liabilities 2270 Cash and cash equivalents 1800 Total Equity & Liabilities 17870 Total Assets 17400 VICE CAPICU Interest income 650 Utility expenses 340 Know-how 1,200 Retained earnings as of January 1 1,700 Inventory as of January 1 1,000 Inventory as of December 31 4,400 Purchase 9,550 You are required to prepare an income statement and a statement of financial position! 7 A- B I U ub = E III Income Statement revenue:8000 cogs:(12950) gross profit:20950 office exp:40 utility exp:340 wages exp:240 net profit:revenue-exp=8000--12330=20330
