Question
What is total expenses and losses if you prepare from the following information one step income statement? Sales 1 500 000 Losses 900 Utilities 1500
What is total expenses and losses if you prepare from the following information one step income statement?
Sales 1 500 000
Losses 900
Utilities 1500
Depreciation 6000
Bad Debt Provision?
Interest revenue 3000
Interest expense 1200
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 9,000 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 9,000 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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