Prepare The Income Statement For The Year Ended June 30 2017
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Use the following to prepare an income statement for excel technology inc for the year ended june 30 2011.
Prepare the income statement for the year ended june 30 2017. See the answer a prepare an income statement for the year 2017 using the multiple step form. B prepare an income statement for the year 2017 using the single step form. This problem has been solved. Click the icon to view the information prepare the income statement for excel technology.
Suppose in its income statement for the year ended june 30 2017 the clorox company reported the following condensed data dollars in millions. Sales inventory purchased gross profit expenses salary and wages rent insurance advertising administration interest 277 400 164 000 113 400 28 400 9 200 3 440 5 600 18 800 4 760. We will be using the adjusted trial balance from this lesson. Prepare an income statement for the year ended 30 june subject accounting 00521356.
Prepare the company s statement of owner s equity for the year ended june 30 comma 2016june 30 2016. Adjusted trial balance if you want you may take a look at how an income statement looks like here before we proceed. It equates to the total amount of sales in dollars that the firm has made for the given income statement period. Assume that there were no contributions made by the owner during the year.
Need this by 11 am today. If your firm sold 40 000 widgets at 25 each you would show 1 000 000 on the sales line. Suppose in its income statement for the year ended june 30 2017 the clorox company reported the following condensed data dollars in millions. Common shares outstanding for 2017 total 40 550 000 omitted.
The cash based statement shows the following. Statement of profit or loss and other comprehensive income for the period ended 31 march 2017 q1 q1 march march note 2017 2016. In this tutorial we will prepare an income statement of a sole proprietorship service type business using information from previous lessons. Begin by completing the heading then complete the income statement.
Common shares outstanding for 2017 total 40 550 000 omitted. Use a minus sign or parentheses to show a decrease in capital. 6 33 preparing an accrual based statement racey has prepared an income statement for the 12 month reporting period ended 30 june on a cash basis showing a 43 200 profit. When you re ready let s begin.
These financial statements were approved by the board of directors on june 9 2017 and signed on its behalf by. Exclude any zero balance events for the period from the statement of owner s equity. Line 1 shows the gross revenue or sales figure.
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