Lannister Salon Statement of Comprehensive Income As of December 31,2023 Notes Lannister Salon Statement of Comprehensive Income As of December 31,2023 Notes Service Revenue Gain on Sale of Equipment Total Income Expenses Salaries & Wages Rent Expense Utilities Expense (150,000.00) (52,750.00) P512,375.00 5,500.00 P517,875.00 Service Revenue Gain on Sale of Equipment Total Income Expenses Salaries & Wages Rent Expense (19,483.00) Supplies Expense (11,236.00) Interest Expense (4,732.00) Depreciation Expense 1 (14,263.00) (252,464.00) Income Before Tax #265,411.00 Income Tax (265,411 x 0.20) Net Income Utilities Expense Supplies Expense Interest Expense Depreciation Expense 1 Income Before Tax (53,082.20) P212,328.80 Income Tax (265,411 x 0.20) Net Income 98.94 1.06 100.00 % (28.96) (10.19) (3.76) (2.17) (0.91) (2.75) (48.75) % 51.25 (10.25) 41.00 %

Lannister Salon Statement of Comprehensive Income As of December 31,2023 Notes Lannister Salon Statement of Comprehensive Income As of December 31,2023 Notes Service Revenue Gain on Sale of Equipment Total Income Expenses Salaries & Wages Rent Expense Utilities Expense (150,000.00) (52,750.00) P512,375.00 5,500.00 P517,875.00 Service Revenue Gain on Sale of Equipment Total Income Expenses Salaries & Wages Rent Expense (19,483.00) Supplies Expense (11,236.00) Interest Expense (4,732.00) Depreciation Expense 1 (14,263.00) (252,464.00) Income Before Tax #265,411.00 Income Tax (265,411 x 0.20) Net Income Utilities Expense Supplies Expense Interest Expense Depreciation Expense 1 Income Before Tax (53,082.20) P212,328.80 Income Tax (265,411 x 0.20) Net Income 98.94 1.06 100.00 % (28.96) (10.19) (3.76) (2.17) (0.91) (2.75) (48.75) % 51.25 (10.25) 41.00 %

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 5MCQ: Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense at...

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