Scribd Logo
Încărcați

Bine ați venit la Scribd!

  • M & M APPLIANCE CENTER (PARTNERSHIP) Solved INCOME STATEMENT

    Încărcat de

    spp
    561 vizualizări1 pagină
    M & M Appliance Center's income statement for January 31, 2008 shows net sales of ₱67,596.43 with a gross profit of ₱33,804.73. Total operating expenses were ₱21,640.62, resulting in a net operating profit of ₱12,561.51. After accounting for net other expenses of ₱2,563.00 and a tax provision of ₱3,199.52, the net income after tax was ₱6,798.99.

    Descriere originală:

    Titlu original

    M & M APPLIANCE CENTER (PARTNERSHIP)Solved INCOME STATEMENT.docx

    Drepturi de autor

    © © All Rights Reserved

    Formate disponibile

    DOCX, PDF, TXT sau citiți online pe Scribd

    Vi se pare util acest document?

    Este necorespunzător acest conținut?

    Raportați acest document
    M & M Appliance Center's income statement for January 31, 2008 shows net sales of ₱67,596.43 with a gross profit of ₱33,804.73. Total operating expenses were ₱21,640.62, resulting in a net operating profit of ₱12,561.51. After accounting for net other expenses of ₱2,563.00 and a tax provision of ₱3,199.52, the net income after tax was ₱6,798.99.

    Drepturi de autor:

    © All Rights Reserved
    Descărcați ca DOCX, PDF, TXT sau citiți online pe Scribd
    Indicator pentru conținut neadecvat
    561 vizualizări1 pagină

    M & M APPLIANCE CENTER (PARTNERSHIP) Solved INCOME STATEMENT

    Încărcat de

    spp
    M & M Appliance Center's income statement for January 31, 2008 shows net sales of ₱67,596.43 with a gross profit of ₱33,804.73. Total operating expenses were ₱21,640.62, resulting in a net operating profit of ₱12,561.51. After accounting for net other expenses of ₱2,563.00 and a tax provision of ₱3,199.52, the net income after tax was ₱6,798.99.

    Drepturi de autor:

    © All Rights Reserved
    Descărcați ca DOCX, PDF, TXT sau citiți online pe Scribd
    Indicator pentru conținut neadecvat
    din 1

    M & M APPLIANCE CENTER

    INCOME STATEMENT
    JANUARY 31, 2008

    SALES ₱68,357.15
    LESS: SALES RETURN & ALLOWANCE ₱446.43
    SALES DISCOUNT ₱314.29 ₱760.72
    NET SALES ₱67,596.43

    COST OF SALES
    MERCHANDISE INVENTORY 01/01/08 ₱74,672.50
    ADD NET COST OF PURCHASES
    PURCHASES ₱34,767.86
    LESS: PURCHASES DISCOUNT ₱ 148.66 ₱34,619.20
    TOTAL AVAILABLE FOR SALE ₱109,291.70
    LESS: MERCHANDISE INVENTORY JAN. 31 2008 ₱ 75,500.00 ₱33,791.70
    GROSS PROFIT ON SALES ₱33,804.73

    OPERATING EXPENSES
    SELLING
    SALARIES ₱5,400.00
    SS,MCR,EC & HDMF ₱ 456.70
    UTILITIES ₱445.00
    DEPRECIATION-DELIVERY EQUIPMENT ₱388.89
    GAS & OIL ₱300.00
    DEPRECIATION- BUILDING ₱250.00
    DELIVERY ₱230.00
    SUPPLIES ₱150.00
    MISCELLANEOUS ₱105.00
    DEPRECIATION- FURNITURE & EQUIPMENT ₱66.70 ₱7,792.29

    GENERAL
    SALARIES ₱11,000.00
    BAD DEBTS ₱ 556.90
    SS,MCR,EC & HDMF ₱ 494.00
    UTILITIES ₱445.00
    INSURANCE ₱338.33
    SUPPLIES ₱300.00
    DEPRECIATION- BUILDING ₱250.00
    DEPRECIATION- FURNITURE & EQUIPMENT ₱66.70 ₱ 13,450.93 ₱21,640.62
    NET OPERATING PROFIT ₱12,561.51
    LESS NET OTHER EXPENSE:
    INTEREST EXPENSE ₱2,550.00
    BANK SERVICE CHARGES ₱25.00
    LESS: INTEREST INCOME ₱12.00 ₱2,563.00
    NET INCOME BEFORE TAX PROVISION ₱ 9,998.51
    32% TAX PROVISION ₱3,199.52

    NET INCOME AFTER TAX PROVISION ₱6,798.99

    S-ar putea să vă placă și