Marks 9 Question 24 Presented Below Is Information Related To Abc Company Sales Revenue 1 400 000 Selling And Admini 1 (40.38 KiB) Viewed 39 times
Marks 9 Question 24 Presented Below Is Information Related To Abc Company Sales Revenue 1 400 000 Selling And Admini 2 (37.09 KiB) Viewed 39 times
(Marks /9) Question 24 Presented below is information related to ABC Company Sales revenue $1,400,000 Selling and administrative expenses Loss on disposal of a component Cash dividends declared on ordinary shares Cost of goods sold Gain resulting from selling of a building 240,000 260,000 33,600 830,000 520,000 120,000 10,000 5,000 Rent revenue Interest expense Unrealized gain of stocks Instructions A. Prepare a multiple step income statement for the year 2015 There were 70,000 ordinary shares outstanding, There were 85,000 ordinary shares issued (6 marks) B. Prepare a comprehensive income statement using the two statement approach (3 Marks )
Answers Question 24 Prepare a multiple stop income statement for the year 2015. The 70.000 ordinary shares outstanding & B5,000 shares isso ABC Company INCOME STATEMENT For the Year Ended December 31, 2015 51400000 Sales revenus Net Income EPS B. Prepare a comprehensive income statement using the two statement approach ABC CompanyStatement of Comprehensive Income For the Year Ended December 31, 2015 $ Net Income Comprehensive income Page 9 of 10
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