Income Statement Questions Pdf

Which funding is single year.

Income statement questions pdf. In the absence of information about the date of repayment of a liability then it may be assumed. In the year ended 31 december 2003 fg had total comprehensive income of 125 000. Boc hong s in come statement includes all of the major items in the list above except for discontin ued operations. How diversified is the funding i e.

In arriving at net income the statement presents the following subtotals. Chapter 7 ptb optional 3 702 kb 242 chapter 7 financial statements xlsx 37 kb 243 chapter 7 balance sheet pdf 12 kb 244 chapter 7 income statement pdf 14 kb 244 chapter 7 dept gross profit total pdf 8 kb 244. Income statement year ended december 31 2017 sales 1 000 000 cost of goods sold 550 000 gross profit 450 000 research and development expense 100 000 selling general and admin. The following trial balance is prepared after preparation of income statement for f.

For multiple choice and true false questions simply press or click on what you think is the correct answer. Calculated of each funding source. Expenses 150 000 operating income 200 000 other income expense. The income statement format above is a basic one what is known as a single step income statement meaning just one category of income and one category of expenses and prepared specifically for a service business.

Abc private limited s statement of financial position. Revenue questions to ask. A fair value adjustment at acquisition resulted in additional depreciation of 30 000 being charged to. Green as at 31 march 2015.

Is revenue increasing or decreasing year over year. Preparation of balance sheet horizontal and vertical style. Special item lawsuit settlement 125 000. If you have difficulty answering the following questions learn more about this topic by reading our income statement explanation.

Prepare balance sheet for f. Examples of service businesses are medical accounting or legal practices or a business that provides services such as plumbing cleaning consulting design etc. Is dependance on primary funder increasing or decreasing year over year. For fill in the blank questions press or click on the blank space provided.

Training material for the ifrs for smes version 2013 1 2 ifrs for smes the ifrs for smes is intended to apply to the general purpose financial statements of entities that do not have public accountability see section 1 small and medium sized entities. Green as at 31 march 2015 in both horizontal and vertical style. Chapter 4 income statement and related information 4 3 illustration illustration 4 2 presents an income statement for boc hong company. Is there a plan to replace funding.

Wisdom business academy f2ss2016 m kit mallik de silva 23 chapter 03 consolidated income statement question 52 bc acquired 65 of the ordinary share capital of fg its only subsidiary on 1 january 2003.