Profit and Loss Statement Week Ending March 24, 2014 Income: Cash Sales $7,260 Expenses: Merchandise $3,160 Rent 750 Insurance 240 Licences etC. 90 Tax Remittance 1,860 200 Advertising Depreciation 600 $6,900 The owners have put $40,000 into the business and they worked a total of 80 hours during the week. Savings accounts urrently paving 5 2% interest and the goina wage rate is $8 per hour.

Profit and Loss Statement Week Ending March 24, 2014 Income: Cash Sales $7,260 Expenses: Merchandise $3,160 Rent 750 Insurance 240 Licences etC. 90 Tax Remittance 1,860 200 Advertising Depreciation 600 $6,900 The owners have put $40,000 into the business and they worked a total of 80 hours during the week. Savings accounts urrently paving 5 2% interest and the goina wage rate is $8 per hour.

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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