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Income statement for XYZ business for the period ending 31st of December 2010 INCOME Services rendered 94,600 94,600 EXPENSES Salaries (63,780) Telephone & internet Water & electricity Property rates and taxes Insurance 25,000 6,500 16,000 1,000 7,300 1,000 2,500 412 Advertising costs Fuel Stationery Bank charges / interest paid Tax expense 654 3,414 NET PROFIT 30,820

Income statement for XYZ business for the period ending 31st of December 2010 INCOME Services rendered 94,600 94,600 EXPENSES Salaries (63,780) Telephone & internet Water & electricity Property rates and taxes Insurance 25,000 6,500 16,000 1,000 7,300 1,000 2,500 412 Advertising costs Fuel Stationery Bank charges / interest paid Tax expense 654 3,414 NET PROFIT 30,820

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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Can u please give the horizontal analysis for this and interpret the results.

Income statement for XYZ business for the period ending 31st of December 2010 $ INCOME Services rendered 94,600 94,600 EXPENSES Salaries (63,780) 25,000 6,500 16,000 1,000 7,300 1,000 2,500 412 Telephone & internet Water & electricity Property rates and taxes Insurance Advertising costs Fuel Stationery Bank charges / interest paid Тах еxpense 654 3,414 NET PROFIT 30,820
Transcribed Image Text:Income statement for XYZ business for the period ending 31st of December 2010 $ INCOME Services rendered 94,600 94,600 EXPENSES Salaries (63,780) 25,000 6,500 16,000 1,000 7,300 1,000 2,500 412 Telephone & internet Water & electricity Property rates and taxes Insurance Advertising costs Fuel Stationery Bank charges / interest paid Тах еxpense 654 3,414 NET PROFIT 30,820
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