Consider the XYZ company information found in the table below. A) Classify in th
ID: 2777670 • Letter: C
Question
Consider the XYZ company information found in the table below.
A) Classify in the appropriate statement: Income Statement (IS) or Balance Sheet (BS).
B) Indicates the type of account that is active current (AC) current liabilities (PC), spending (G), fixed assets
(AF), long-term debt (DLP), income (I) or shareholders' equity (PA). (27 points)
C) With the amounts that are provided for each account, prepare:
1. Statement of Income and Expenditure for the year ending December 31 of the year
current. (10 points)
2. The Statement of Financial Position at December 31 this year. (10 points)
******** PLEASE INCLUDE ALL THE CALCULATIONS OF THE PROBLEMS, THANK ******
Explanation / Answer
2.
Statement of Income and Expenditure for the year ending December 31 Particulars Amount Revenue 2110965 Cost of Goods Sold 1459455 Gross profit 651510 Depreciation 112178 Advertising & marketing costs 58300 Administrative expenses 43200 Other expenses 237759 Finance costs 117587 Profit / (Loss) before tax 82486 Income tax expense 28870 Profit / (Loss) for the year (A) 53616