From the Horizontal Analysis, prepare a sales revenue forecast assuming no changes in business environment and operations. STATEMENTS OF RECEIPTS AND EXPENSESFor the fiscal years ended April 30,20192020OPERATING RECEIPTS (Note 11)10,393,998 P7,917,093OPERATING EXPENSES (Note 12)8,145,1138,605,909EXCESS OF EXPENSES OVER RECEIPTS2,248,885(688,816)OTHER INCOME, NET (Note 13)1,098,761TOTAL NET RECEIPTS (EXPENSES)3,347,646 P(688,816)See Notes to Financial Statements

Horizontal analysis - Horizontal Analysis is part of the analysis in which individuals get the idea…

STATEMENTS OF RECEIPTS AND EXPENSES For the fiscal years ended April 30, 2020 2019 OPERATING RECEIPTS (Note 11) 10,393,998 P 7,917,093 OPERATING EXPENSES (Note 12) 8,145,113 8,605,909 EXCESS OF EXPENSES OVER RECEIPTS 2,248,885 (688,816) OTHER INCOME, NET (Note 13) 1,098,761 TOTAL NET RECEIPTS (EXPENSES) P 3,347,646 P (688,816) See Notes to Financial Statements

STATEMENTS OF RECEIPTS AND EXPENSES For the fiscal years ended April 30, 2020 2019 OPERATING RECEIPTS (Note 11) 10,393,998 P 7,917,093 OPERATING EXPENSES (Note 12) 8,145,113 8,605,909 EXCESS OF EXPENSES OVER RECEIPTS 2,248,885 (688,816) OTHER INCOME, NET (Note 13) 1,098,761 TOTAL NET RECEIPTS (EXPENSES) P 3,347,646 P (688,816) See Notes to Financial Statements

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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