Revenues: Zillinga Pte Ltd Income Statement Year Ended December 31, 2021 Sales revenue Dividend revenue 8,000 239,000 Cost of goods sold 102,000 Salary expense 48,000 Depreciation expense 28,000 Advertising expense 13,000 11,000 Income tax expense Interest expense 3,000 205,000 Net income 34,000 Additional data follow: a. Collections from customers are $15,500 more than sales. b. Dividend revenue, interest expense, and income tax expense equal their cash amounts. c. Payments to suppliers are the sum of cost of goods sold plus advertising expense. d. Payments to employees are $1,000 more than salaries expense. e. Cash payment for the acquisition of plant assets is $102,000. f. Cash receipts from sale of land total $24,000. g. Cash receipts from issuance of common stock total $32,000. h. Payment of long-term notes payable is $17,000. Expenses: 231,000

Revenues: Zillinga Pte Ltd Income Statement Year Ended December 31, 2021 Sales revenue Dividend revenue 8,000 239,000 Cost of goods sold 102,000 Salary expense 48,000 Depreciation expense 28,000 Advertising expense 13,000 11,000 Income tax expense Interest expense 3,000 205,000 Net income 34,000 Additional data follow: a. Collections from customers are $15,500 more than sales. b. Dividend revenue, interest expense, and income tax expense equal their cash amounts. c. Payments to suppliers are the sum of cost of goods sold plus advertising expense. d. Payments to employees are $1,000 more than salaries expense. e. Cash payment for the acquisition of plant assets is $102,000. f. Cash receipts from sale of land total $24,000. g. Cash receipts from issuance of common stock total $32,000. h. Payment of long-term notes payable is $17,000. Expenses: 231,000

Name: Revenues:Zillinga Pte LtdIncome StatementYear Ended December 31, 2021
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Description: Revenues:Zillinga Pte LtdIncome StatementYear Ended December 31, 2021Sales revenueDividend revenue8,000 239,000Cost of goods sold102,000Salary expense48,000Depreciation expense28,00013,000Advertising expenseIncome tax expenseInterest expense11,0003,

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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