Assume that you are the owner/operator of College Park Veterinary Clinic. At the end of the second year of operations (June 30, 2020), the following financial data for the company are available: Cash Accounts Receivable Supplies Property and Equipment Other Assets Accounts Payable Notes Payable Other Liabilities Sales Revenue Operating Expenses Selling and Administrative Expenses Advertising and Marketing Expenses Interest Expense Retained Earnings, July 1, 2019. Contributed Capital Dividends Expenses Required: 1. Prepare an income statement for the year ended June 30, 2020. (Negative amounts should be indicated by a minus sign.) COLLEGE PARK VETERINARY CLINIC Income Statement For the Year Ended June 30, 2020 $ 5,000 149,800 27,000 240,500 13,700 106,550 160,000 25,100 205,000 187,100 45,100 21,200 5,000 81,000 Total expenses 137,000 20,250
Assume that you are the owner/operator of College Park Veterinary Clinic. At the end of the second year of operations (June 30, 2020), the following financial data for the company are available: Cash Accounts Receivable Supplies Property and Equipment Other Assets Accounts Payable Notes Payable Other Liabilities Sales Revenue Operating Expenses Selling and Administrative Expenses Advertising and Marketing Expenses Interest Expense Retained Earnings, July 1, 2019. Contributed Capital Dividends Expenses Required: 1. Prepare an income statement for the year ended June 30, 2020. (Negative amounts should be indicated by a minus sign.) COLLEGE PARK VETERINARY CLINIC Income Statement For the Year Ended June 30, 2020 $ 5,000 149,800 27,000 240,500 13,700 106,550 160,000 25,100 205,000 187,100 45,100 21,200 5,000 81,000 Total expenses 137,000 20,250
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter14: Activities Required In Completing A Quality Audit
Section: Chapter Questions
Problem 65RSCQ
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