Income Statement Worksheet With Answers

This worksheet and answer sheet can be used to test students knowledge of financial statements.

Income statement worksheet with answers. Green as at 31 march 2015 in both horizontal and vertical style. Worksheet to help students calculate an income statement and to learn the different financial formulas that are associated with it. Indicate whether each balance should be extended to a an income statement column or b a balance sheet column. To pass the quiz you will need to be familiar with related terminology.

Prepare balance sheet for f. Robinson drawing a 3. The following is the adjusted trial balance columns from the worksheet for picture perfect photography. Our quiz and worksheet is made up of questions on the operations of an income statement that you can access from any mobile device or computer at your leisure.

Answer explanations teacher s copy gross sales for the se region. Using the information provided in the worksheet above prepare an income statement for picture perfect photography. About this quiz worksheet. Net income before taxes 34 049.

Explore answers and all related questions. Depreciation expense b 4. This quiz worksheet combination will assess your knowledge of the purpose of income statements. Green as at 31 march 2015.

For the add 1 truck scenario project the income from food sales for 2020 2022 cells d5 f5 using a growth trend interpolation. Add ne region 123 528 nw region 195 426 sw region 148 258 and deduct it from total gross sales 700 177 se region 232 965 total sales returns. This worksheet is applicable for both ks4 and ks5 and relevant for all exam boards. Answer sheet also provided.

About this quiz worksheet. This specifically focuses on the income statement and the statement of financial position. Accumulated depreciation a 5. Select the range c5 g5 before filling this series with values the mobile vegan expansion plan income statement add 1 truck 2020 2021 2022 income food sales beverage.

The following trial balance is prepared after preparation of income statement for f. The balances for the accounts listed below appear in the adjusted trial balance columns of the end of period spreadsheet work sheet. This video shows how to do the income statement and balance sheet columns of the worksheet. In the absence of information about the date of repayment of a liability then it may be assumed.