Question
W What is total revenues and gains if you prepare from the following information one step income statement? Sales 1 500 000 Losses 900 Utilities
W
What is total revenues and gains if you prepare from the following information one step income statement?
Sales 1 500 000
Losses 900
Utilities 1500
Depreciation 5000
Bad Debt Provision?
Interest revenue 3500
Interest expense 1000
Salaries 123 000
Cost of Goods sold 122 000
Rent expense 6500
Gains?
Additional information:
a) Company has issued invoices for a total of 150 000 euro to its customers in a given month, and has a historical experience of 3% bad debts on its billings.
b) Company sells one of its track for 10,000 euro because it is not an organization that deals in the buying and selling of vehicles, the sale of the track is outside of its primary activities. Company sells one of its delivery tracks for 10,000 euro. Over the years, the cost of the track was being depreciated on the company's accounting records (5,000) euro.
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