Unique Aishas Income Statement For The Month Of June Is Shown

Contains the following information.

Aishas income statement for the month of june is shown. Prepare a statement of stockholders equity for the two months ended July 31 20Y5. The variable cost per unit is 90 and fixed costs are 15250. Note that when you select an account brackets may automatically appear around the input box in which you are asked to enter the balance of the account.

Each month 5000 of this total amount is depreciation expense and the remaining 55000 relates to expenses that are paid in the month they are incurred. Using the information presented answer these questions. Peyton Smith made investments in PS Music on June 1 and July 1 20Y5.

The income statement is a report of your businesss profits and losses over a specific period. The companys sales and expenses for the month of June are shown. Sells a product for 150 per unit.

A major expense shown in our first income statement example above is tax. The income statement is essentially the monthly budget with actual cost and income figures inserted. The format of an income statement for a service business such as a medical accounting or legal practice or services such as plumbing cleaning consulting design etc is shown below.

View Answer The Massoud Consulting Group reported net income of. Aishas income statement for the month of June is shown Which expression will find Aishas net income for June. Salries and Wages Expense 3000 Rent Expense 1300 Advertising Expense 700 Supplies Expense 200 Insurance Expense 100 Total expenses 5300 Net income 2000 At June 1 2020 Snap Shot reported owners equity of 36000.

What is the total contribution margin at the break-even point. Delta Cos tax rate is 36 and the company wants to earn 44000 after taxes. We will go over the format of an income statement for a trading business a business that buys and sells goods and for a manufacturing business a business that makes goods themselves separately in future.