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
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter15: Capital Investment Analysis
Section: Chapter Questions
Problem 15.5.1MBA
Related questions
Question
100%
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F085f9ff9-33fd-453f-8d1a-ef466a7497cb%2F1d5d8877-299d-48fe-9cdb-c055010b77eb%2F6vyrgbk_processed.png&w=3840&q=75)
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
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Survey of Accounting (Accounting I)](https://www.bartleby.com/isbn_cover_images/9781305961883/9781305961883_smallCoverImage.gif)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
![Survey of Accounting (Accounting I)](https://www.bartleby.com/isbn_cover_images/9781305961883/9781305961883_smallCoverImage.gif)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning