Marvelous Aishas Income Statement For The Month Of June Is Shown

View Answer The Massoud Consulting Group reported net income of.

Aishas income statement for the month of june is shown. There are three main financial statements used to get a clear view of your businesss financial. Aishas income statement for the month of June is shown Which expression will find Aishas net income for June. The income statement is essentially the monthly budget with actual cost and income figures inserted.

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. Sells a product for 150 per unit. 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.

Contains the following information. Peyton Smith made investments in PS Music on June 1 and July 1 20Y5. Total Expenses b.

Miller Toy Company manufactures a plastic swimming pool at its Westwood Plant. To begin select the appropriate accounts using a popup link. The companys sales and expenses for the month of June are shown.

An income statement is an official financial document that presents the actual income and expenses of a business for a declared period of timeoften the end of each month and at the end of the fiscal year. Monthly selling and administrative expenses are always 60000. Tax or taxation is actually shown in a simplified way in that income statement as it is a single-step income statement.

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. You can use the income statement to summarize monthly quarterly or annual operations. Variable cost of goods sold 435000 461890 Variable selling expenses 20000 20000 Total variable expenses 455000 481890.