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3.1 3.2 3.3 What is an income and expense statement? What type of expense is the stall fee? What type of income are the cooldrink and cupcake sales? Give a reason for your answer.

3.1 3.2 3.3 What is an income and expense statement? What type of expense is the stall fee? What type of income are the cooldrink and cupcake sales? Give a reason for your answer.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please Answer All Three Questions

The school has a sport tour. The learners each have to pay R200 to go on the tour. The learners have decided to have a fundraiser and the profit made will help pay for the tour. Each learner has a stall at a market day. Use the following table to answer the questions about Lerato's income and expenses statement. Stall fee Cupcakes Cooldrinks Packaging Expenses Total expenses R150 R188 R140 R50 R 528 Income Cooldrink sales Cupcake sales Total income (A) (B) R 744
Transcribed Image Text:The school has a sport tour. The learners each have to pay R200 to go on the tour. The learners have decided to have a fundraiser and the profit made will help pay for the tour. Each learner has a stall at a market day. Use the following table to answer the questions about Lerato's income and expenses statement. Stall fee Cupcakes Cooldrinks Packaging Expenses Total expenses R150 R188 R140 R50 R 528 Income Cooldrink sales Cupcake sales Total income (A) (B) R 744
3.1 3.2 3.3 What is an income and expense statement? What type of expense is the stall fee? What type of income are the cooldrink and cupcake sales? Give a reason for your answer.
Transcribed Image Text:3.1 3.2 3.3 What is an income and expense statement? What type of expense is the stall fee? What type of income are the cooldrink and cupcake sales? Give a reason for your answer.
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