Questions about the Income Statement for Coast Investment & Development Co. (K.S.C.P) a. List 2 expense accounts AND their amounts for 2020.b. What was the net profit/(loss) for 2020? What about 2019?c. Compared with 2019, has the net profit/(loss) increased or decreased? Kuwait Finance IHouse K.S.C.P. and SubsidiariesINTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME(UNAUDITED)For the period ended 30 June 2020KD 000'sThree months endedSix months ended30 Juņe201930 June30 June202030 June2019Notes2020INCOME460,523Financing incomeFinance cost and estimated distribution219,267232,121444,890to depositors(69,358)(109,743)(149,141)(209,908)Net financing income149,909122,378295,749250,615,24514,28418,4966,68334,94019,0359,05710,12936,20633,15536,66217,96560,44042,60818,31820,398Investment incomeFees and commission incomeNet gain from foreign currenciesOther operating incomeTOTAL OPERATING INCOME199,617195,539419,737392,379OPERATING EXPENSESStaff costsGeneral and administrative expensesDepreciation and amortization(40,960)(18,626)(11,474)(44,739)(18,476)(9,747)(89,454)(41,006)(21,656)(93,004)(38,836)(19,819)TOTAL OPERATING EXPENSES(71,060)(72,962)(152,116)(151,659)122,577(59,946)267,621(186,194)240,720(99,971)NET OPERATING INCOME128,557Provisions and impairment(111,263)PROFIT FOR THE PERIOD BEFOREТАХАТIONТахation17,294(3,564)62,631(12,631)81,427(15,097)140,749(29,410)13,73050,00066,330111,339PROFIT FOR THE PERIODAttributable to:Shareholders of the Bank12,6421,08856,070(6,070)56,9179,413107,6653,674Non-controlling interests13,73050,00066,330111,339BASIC AND DILUTED EARNINGSPER SHARE ATTRIBUTABLE TOTHE SHAREHOLDERS OF THE41.66 fils7.40 fils7.49 fils14.22 filsBANK

An income statement summarises a company's sales, expenditures, and net profit or loss for a given…

Questions about the Income Statement for Coast Investment & Development Co. (K.S.C.P) a. List 2 expense accounts AND their amounts for 2020. b. What was the net profit/(loss) for 2020? What about 2019? c. Compared with 2019, has the net profit/(loss) increased or decreased?

Questions about the Income Statement for Coast Investment & Development Co. (K.S.C.P) a. List 2 expense accounts AND their amounts for 2020. b. What was the net profit/(loss) for 2020? What about 2019? c. Compared with 2019, has the net profit/(loss) increased or decreased?

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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Questions about the Income Statement for Coast Investment & Development Co. (K.S.C.P)

a. List 2 expense accounts AND their amounts for 2020.

b. What was the net profit/(loss) for 2020? What about 2019?

c. Compared with 2019, has the net profit/(loss) increased or decreased?

Kuwait Finance IHouse K.S.C.P. and Subsidiaries
INTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME
(UNAUDITED)
For the period ended 30 June 2020
KD 000's
Three months ended
Six months ended
30 Juņe
2019
30 June
30 June
2020
30 June
2019
Notes
2020
INCOME
460,523
Financing income
Finance cost and estimated distribution
219,267
232,121
444,890
to depositors
(69,358)
(109,743)
(149,141)
(209,908)
Net financing income
149,909
122,378
295,749
250,615
,245
14,284
18,496
6,683
34,940
19,035
9,057
10,129
36,206
33,155
36,662
17,965
60,440
42,608
18,318
20,398
Investment income
Fees and commission income
Net gain from foreign currencies
Other operating income
TOTAL OPERATING INCOME
199,617
195,539
419,737
392,379
OPERATING EXPENSES
Staff costs
General and administrative expenses
Depreciation and amortization
(40,960)
(18,626)
(11,474)
(44,739)
(18,476)
(9,747)
(89,454)
(41,006)
(21,656)
(93,004)
(38,836)
(19,819)
TOTAL OPERATING EXPENSES
(71,060)
(72,962)
(152,116)
(151,659)
122,577
(59,946)
267,621
(186,194)
240,720
(99,971)
NET OPERATING INCOME
128,557
Provisions and impairment
(111,263)
PROFIT FOR THE PERIOD BEFORE
ТАХАТION
Тахation
17,294
(3,564)
62,631
(12,631)
81,427
(15,097)
140,749
(29,410)
13,730
50,000
66,330
111,339
PROFIT FOR THE PERIOD
Attributable to:
Shareholders of the Bank
12,642
1,088
56,070
(6,070)
56,917
9,413
107,665
3,674
Non-controlling interests
13,730
50,000
66,330
111,339
BASIC AND DILUTED EARNINGS
PER SHARE ATTRIBUTABLE TO
THE SHAREHOLDERS OF THE
4
1.66 fils
7.40 fils
7.49 fils
14.22 fils
BANK

Definition Definition Amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item

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